(Reuters) - U.S. tobacco company RJ Reynolds is exploring a bid for rival cigarette-maker Lorillard Inc , the Financial Times reported, citing people familiar with the situation.
The deal value is expected to be in excess of $20 billion, the paper reported.
RJR has appointed investment bank Lazard to explore the deal, the Financial Times reported. (http://link.reuters.com/sas37v)
(Reporting by Tasim Zahid in Bangalore; Editing by Saumyadeb Chakrabarty)
