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BRIEFLY

Consumer Products

February 07, 1996|Times Staff and Wire Reports

RJR Nabisco Investors Urged to Back Spinoff: An independent shareholder advisory firm recommended that investors of New York-based RJR Nabisco Holdings Corp. support a nonbinding resolution calling for an immediate spinoff of its food unit. "There is little guarantee that there will be a better time for RJR to conduct a spinoff of its controlling interest in Nabisco," said the report issued by David Drake, senior analyst at Institutional Shareholder Services, which provides analyses for institutional shareholders. The proposal to spin off the 80.5%-owned Nabisco Holdings Corp. was launched last month by investors Bennett LeBow and Carl Icahn. It is aimed at pressuring the RJR board, which has vowed to split up the company's food and tobacco operations but contends this is not an appropriate time. RJR has insisted it supports a Nabisco spinoff but will not pursue it until 1997 or 1998.

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