June 14, 1988 |
Tobacco and liquor giant American Brands Inc. said Monday that it is selling its E-II Holdings Inc. for about $1.2 billion but will buy back five of E-II's home and office products companies for $645 million. American Brands said it was making the moves to concentrate on three new core businesses--home products, office products and hardware.
February 10, 1988 |
Granny Goose Foods, a small regional producer of potato chips and other salty snacks, has developed a taste for Sunshine Biscuits, the nation's third-largest cookie and cracker maker. In fact, Oakland-based G. F. Industries, parent of Granny Goose Foods, plans to swallow the larger company whole. Under a merger agreement announced Monday, G. F.
January 23, 1988 |
The sudden move by American Brands Inc. to acquire its hostile suitor E-II Holdings Inc. marks a rare use of the controversial "Pac Man" takeover defense, and some analysts said that it might work. American Brands, a consumer products company based in Greenwich, Conn., on Friday began a $13-a-share tender offer for all of E-II's 61.8 million common shares outstanding, a deal worth about $805 million. On Friday, American Brands' stock closed at $47.37, up 61 cents, on the New York Stock Exchange.
January 22, 1988 |
American Brands Inc. said Thursday that it plans to begin an $803-million tender offer for E-II Holdings Inc., the Beatrice Co. spinoff that owns about 5% of American Brands. American Brands' move apparently turns the tables on E-II, whose chairman, Donald Kelly, met last week with American Brands officials to discuss a friendly merger proposal between the two firms, industry analysts said.