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By New York Times News Service | May 28, 1993
NEW YORK -- At a time when its stock has crested and senior executives seem to be heading for the exits, RJR Nabisco announced yesterday that it had coaxed Charles M. Harper away from ConAgra Inc., where he is the chairman, to be its new chief executive.The appointment, which takes effect Monday, means that the man who started Healthy Choice foods after having recovered from a heart attack will soon be running a company that gets more than half its $15.7 billion in sales from cigarettes.Mr.
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BUSINESS
January 26, 2007
Blackstone raises Equity Office bid Private equity firm Blackstone Group raised its offer yesterday to buy Equity Office Properties Trust by 11 percent to $22.3 billion, or $54 per share in cash, topping a rival bid from Vornado Realty Trust. Including debt, the deal could be worth as much as $38 billion, given $16.49 billion in Equity Office's debt reported as of Sept. 30. That valuation ranks it the largest-ever private equity buyout bid, surpassing the 1988 takeover of RJR Nabisco Inc. by Kohlberg Kravis Roberts & Co., according to data from Dealogic.
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BUSINESS
By BLOOMBERG NEWS | April 23, 1999
NEW YORK -- RJR Nabisco Holdings Corp., the No. 2 U.S. cigarette maker, said its first-quarter profit fell 54 percent on falling domestic sales, bigger discounts and a payment tied to the tobacco industry's $206 billion settlement.Profit from operations at the maker of Winston, Salem and Camel cigarettes fell to $83 million, or 24 cents a share, from $179 million, or 52 cents, a year earlier. Analysts had expected the company to earn 28 cents a share.RJR and industry leader Philip Morris Cos., the maker of best-selling Marlboro cigarettes, offered a 55-cent-a-pack discount on their major U.S. brands to try to keep smokers after prices were raised by 70 cents last year to pay for the industry's $206 billion legal settlement with the states, but that helped RJR's rival more, analysts said.
BUSINESS
By BLOOMBERG NEWS | April 23, 1999
NEW YORK -- RJR Nabisco Holdings Corp., the No. 2 U.S. cigarette maker, said its first-quarter profit fell 54 percent on falling domestic sales, bigger discounts and a payment tied to the tobacco industry's $206 billion settlement.Profit from operations at the maker of Winston, Salem and Camel cigarettes fell to $83 million, or 24 cents a share, from $179 million, or 52 cents, a year earlier. Analysts had expected the company to earn 28 cents a share.RJR and industry leader Philip Morris Cos., the maker of best-selling Marlboro cigarettes, offered a 55-cent-a-pack discount on their major U.S. brands to try to keep smokers after prices were raised by 70 cents last year to pay for the industry's $206 billion legal settlement with the states, but that helped RJR's rival more, analysts said.
BUSINESS
By BLOOMBERG NEWS | February 28, 1997
NEW YORK -- Financier Carl Icahn said yesterday that he had sold his 19.93 million shares of RJR Nabisco Holding Corp. for $732.4 million, all but ending his 17-month attempt to force the food and tobacco company to split in two.Icahn said investor "euphoria" over talks to settle legal claims against the tobacco industry dashed his second bid to win control of the maker of Camel cigarettes and Oreo cookies. He made about $134.5 million from the sale, not including dividends.It isn't Icahn's first abrupt exit.
NEWS
By DAN BERGER | March 29, 1993
IBM turned to RJR Nabisco for a savior. The theory is that the chip business and the chocolate chip business are much alike.
BUSINESS
By New York Times News Service | November 1, 1994
NEW YORK -- The RJR Nabisco Holdings Corp. took a big step yesterday that some analysts predicted would lead to a separation of its food operations and its tobacco business.In a long-anticipated move to free its fast-growing food business from the taint of tobacco that has held down the company's stock price, RJR Nabisco announced a plan to sell 19 percent of its Nabisco foods unit. Proceeds from the offering, expected to be as much as $1 billion, would be used to pay off debt.Still, even becoming a completely separate operation might not protect the food company from potential legal consequences as smokers pursue lawsuits contending that they were harmed by their use of cigarettes.
NEWS
By Dan Berger | March 12, 1999
The only office Kweisi really wants is U.S. senator, same as Kurt, only Paul won't give it up.Governor Glen wants to open the racetrack biz to free-market competition. That's un-American!China's nuclear espionage coup during the Reagan administration was obviously that scoundrel Clinton's doing.RJR Nabisco will spit out its tobacco rather than toss its cookies.Pub Date: 3/12/99
NEWS
By NEW YORK TIMES NEWS SERVICE | June 25, 1997
Philip Morris Cos., the giant of the cigarette industry, will provide most of an initial $10 billion payment under the $368.5 billion tobacco settlement proposal reached last week, industry officials said yesterday.Under a formula reached by the five tobacco companies taking part in the proposal, the first $10 billion payment will be divided based on their stock market value. Under the plan, which was a heated topic of discussion among the companies, Philip Morris will pay $6.5 billion of the initial payment and maybe more, people inside and outside the company said.
NEWS
December 8, 1994
NOW that tobacco experts at RJR Nabisco claim to have devised a new, improved "smokeless" cigarette, it is instructive to recall what happened the last time such an invention was foisted on the public.The time was 1988 and RJR Nabisco's CEO, F. Ross Johnson, was trying to find a way to boost the price of his company's stock. Here's an excerpt from "Barbarians at the Gate: The Fall of RJR Nabisco," by Bryan Burrough and John Helyar:"There were other ways to boost the stock price, of course.
NEWS
By Dan Berger | March 12, 1999
The only office Kweisi really wants is U.S. senator, same as Kurt, only Paul won't give it up.Governor Glen wants to open the racetrack biz to free-market competition. That's un-American!China's nuclear espionage coup during the Reagan administration was obviously that scoundrel Clinton's doing.RJR Nabisco will spit out its tobacco rather than toss its cookies.Pub Date: 3/12/99
NEWS
By Sean Somerville and Sean Somerville,SUN STAFF | March 10, 1999
Moving to raise its value as it faces billions of dollars in legal claims, RJR Nabisco Holding Corp. said yesterday that it will sell its international tobacco business to Japan Tobacco Inc. for $8 billion and spin off its domestic tobacco business.Together, the moves would mark the dismantling of a company, acquired a decade ago in a $25 billion leveraged buyout, that makes Oreo cookies, Planters peanuts and Ritz crackers along with Winston, Camel and Salem cigarettes.Stephen F. Goldstone, the chairman and chief executive officer of RJR Nabisco, linked the moves, calling the sale of Reynolds International a "paramount strategic objective."
BUSINESS
By BLOOMBERG NEWS | July 4, 1997
NEW YORK -- Philip Morris Cos. once spent its advertising dollars on billboard space as wide and open as Marlboro country.That's coming to an end. Billboards and ads featuring the Marlboro Man and Joe Camel are banned in a proposed $368.5 billion settlement of health-related lawsuits. Cigarette makers also will spend $500 million a year on anti-smoking ads and create text-only black-and-white ads for magazines with 15 percent youth readership under the plan.Philip Morris, RJR Nabisco Holdings Corp.
NEWS
By NEW YORK TIMES NEWS SERVICE | June 25, 1997
Philip Morris Cos., the giant of the cigarette industry, will provide most of an initial $10 billion payment under the $368.5 billion tobacco settlement proposal reached last week, industry officials said yesterday.Under a formula reached by the five tobacco companies taking part in the proposal, the first $10 billion payment will be divided based on their stock market value. Under the plan, which was a heated topic of discussion among the companies, Philip Morris will pay $6.5 billion of the initial payment and maybe more, people inside and outside the company said.
BUSINESS
By BLOOMBERG NEWS | February 28, 1997
NEW YORK -- Financier Carl Icahn said yesterday that he had sold his 19.93 million shares of RJR Nabisco Holding Corp. for $732.4 million, all but ending his 17-month attempt to force the food and tobacco company to split in two.Icahn said investor "euphoria" over talks to settle legal claims against the tobacco industry dashed his second bid to win control of the maker of Camel cigarettes and Oreo cookies. He made about $134.5 million from the sale, not including dividends.It isn't Icahn's first abrupt exit.
NEWS
By Jay Price and Jay Price,SPECIAL TO THE SUN | November 13, 1995
WINSTON-SALEM, N.C. -- Gone is the smell of cured tobacco, the rich, almost food-like aroma that used to hang over the city day and night.Most of the huge red-brick cigarette factories remain and still fill block after block of the downtown, but they're vacant now or used for something else. The dominant features now are skyscrapers owned by insurance companies and banks.For nearly a century, it was hard to tell where Winston-Salem left off and R. J. Reynolds tobacco began. But not any more.
NEWS
September 11, 1992
PEOPLE WITH money and education can take care of themselves.That may be the underlying message in the fact that little hubbub has been made, thus far, of reports that Philip Morris Co. is marketing a new cigarette to homosexual men.When RJR Nabisco created smokes a couple of years ago aimed at low-income blacks and women, under the brand names "Uptown" and "Dakota," a hue and cry forced the company to drop the strategies.Philip Morris is introducing Benson & Hedges Special Kings with an ad in a fashion and life style magazine for homosexual men called "Genre," The Wall Street Journal reported recently.
BUSINESS
December 22, 1994
Borden acquisition by KKRKohlberg Kravis Roberts & Co. said yesterday that it has acquired nearly 70 percent of Borden Inc.'s shares, enough stock in the financially struggling food giant to complete its $1.9 billion buyout.In the deal, Borden shareholders will exchange their stock for 2.29146 shares of RJR Nabisco Holdings Corp. that are currently held by Kohlberg, Kravis. At RJR Nabisco's closing price of $5.8125 on the New York Stock Exchange yesterday, the exchange is worth $13.32 a share for Borden stockholders.
NEWS
December 8, 1994
NOW that tobacco experts at RJR Nabisco claim to have devised a new, improved "smokeless" cigarette, it is instructive to recall what happened the last time such an invention was foisted on the public.The time was 1988 and RJR Nabisco's CEO, F. Ross Johnson, was trying to find a way to boost the price of his company's stock. Here's an excerpt from "Barbarians at the Gate: The Fall of RJR Nabisco," by Bryan Burrough and John Helyar:"There were other ways to boost the stock price, of course.
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