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Shares in Imperial Tobacco hit record high on fresh takeover talk

Shares in Imperial Tobacco touched an all time high on Monday amid fresh speculation a tie-up between the UK-listed cigarette group and Japan Tobacco is imminent.

There has been takeover talk about the pair recently, but this time the amplified bounce in the share price came as traders said the higher trading volumes suggested Japan Tobacco could bid for the company very soon. However, other chatter in the City pointed to three other possible suitors, including British American Tobacco and Altria Group.

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