Correction: Reynolds american Story

... errOneously that Japan Tobacco decided to end its joint venture with Reynolds american to market american-brand Cigarettes in Italy, France and Spain. ...

In a May 22 story about Reynolds american Inc., The Associated Press reported errOneously that Japan Tobacco decided to end its joint venture with Reynolds american to market american-brand Cigarettes in Italy, France and Spain.
Instead, it was Reynolds who elected to terminate the venture.
A corrected version of the story appears below.
NEW YORK (AP) - Reynolds american Inc., the nation's second-largest tobacco company, will end a joint venture between its subsidiary R.J. Reynolds Tobacco CV and Gallaher Group PLC, according to a regulatory filing on Monday.
In a filing with the Securities and Exchange Commission, Reynolds said as a result of Japan Tobacco Inc.'s acquisition of Gallaher in April, Reynolds has decided to terminate the venture, formed in 2002 to market american-brand Cigarettes in Italy, France and Spain.
The termination date has been set at Nov. 30.
After the venture ends, the value of all of the trademarks each joint venture member has licensed to the joint venture will be tallied. The company with trademarks with a greater value will be requiRed to pay the other party an amount equal to One-half of the difference between the value of the parties' respective trademarks.
Shares fell 69 cents to $66.02 in morning trading.

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