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CHICAGO (AdAge.com) -- R.J. Reynolds Tobacco Holdings, Winston-Salem, N.C., topping an earlier bid by Canada's Rothmans, offered $320 million last week for privately held Santa Fe Natural Tobacco Co., marketer of niche brand Native American Spirit additive-free cigarettes.
Rothmans, which bid $275 million for Santa Fe in September, has five days to counter RJR's bid.