Byline: Brian Louis
Nov. 23--Now the world knows what R.J. Reynolds Tobacco Holdings Inc. wants to do with at least some of its pile of cash.
The nation's No. 2 cigarette maker wants to buy Santa Fe Natural Tobacco Co. Inc. for $320 million. Tobacco industry analysts overall lauded the RJR move because they expect it to add to the company's earnings, but they also said that RJR is paying a fairly rich price for Santa Fe, the maker of American Sprit cigarettes.
"They didn't get it at a cheap price," said David Adelman, an analyst at Morgan Stanley. Adelman called Santa Fe a "perfectly good company," which has the potential to add to RJR's core …