Robert Byrd, a seven-term Democrat, is all but certain to defeat Republican David Gallaher.

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At 12 times 2006 earnings, the bid for Gallaher is priced in line with other large tobacco industry deals.

FORBES: Japan Tobacco Deal Is All About Russia

In 2001 British tobacco company Gallaher Group bought Austria Tabak, at one time Austria's government-run tobacco monopoly, and decided to shrink the company's museum.

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Gallaher's LD brand is one of the biggest tobacco labels in Russia, and its Sovereign cigarettes are widely smoked in the former Soviet states of Ukraine and Kazakhstan.

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Small domestic producers such as Britain's Gallaher, Austria Tabak and Papastratos of Greece look potential victims, reckons Martin Feldman, an analyst at Salomon Smith Barney, Citigroup's investment bank.

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An aide to Mr. Gallaher and a J.

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Gallaher has recommended that shareholders accept the bid, but the share price moved to a 12 pence premium to the 11.40 pounds offer price in Friday trading, suggesting investors thought a counterbid could be forthcoming.

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Gallaher bought Russian cigarette maker Liggett-Ducat in 2000, and the acquisition would leapfrog Japan Tobacco over Altria Group 's Philip Morris into the No. 1 spot in the Russian market, with a 34% market share .

FORBES: Magazine Article

Gallaher bought Russian cigarette maker Liggett-Ducat in 2000, and the acquisition would leapfrog Japan Tobacco over Altria Group 's (nyse: MO - news - people ) Philip Morris into the No. 1 spot in the Russian market, with a 34% market share .

FORBES: Japan Tobacco Deal Is All About Russia