By Tripp Mickle 
 

Lorillard (LO) and Reynolds (RAI) took a step forward in their pending $25 billion deal, sending out a letter to shareholders late Oct. 17 alerting them they will be asked to vote respectively on the merger plan and share-issue plan in the future.

Lorillard and Reynolds didn't set a date for their separate shareholder votes. The merger is still being reviewed by the Federal Trade Commission, which is evaluating how the combined company's stake in 33% of the tobacco market will affect consumers and the industry.

Both companies' boards unanimously recommend their shareholders approve the merger. When and if they will have a chance to do that rests on when the FTC finishes its review.

Write to Tripp Mickle tripp.mickle@wsj.com

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