February 19, 1990
South Bay Digest / Local News in Brief Robert Karl Heimann, 71, chief executive of American Brands Inc. from 1977 until his retirement in 1980. As head of American Brands, Heimann led the company in acquiring Gallagher Ltd., now the largest tobacco company in Britain. The company also diversified into such fields as foods, alcoholic beverages and fruit juices. Heimann joined American Brands in 1954 when it was the American Tobacco Co.
January 31, 1990 |
A shake-up on the board of American Brands Inc. Tuesday gave outside directors control of the diversified company, which sells everything from cigarettes to life insurance to Jim Beam bourbon. The changes quickly incited speculation that American Brands might become a takeover target. The company's stock closed up $1.25 at $6 in heavy trading on the New York Stock Exchange. In a brief statement, William J.
April 11, 1989 |
Northern Ireland is joining South Africa as a prime target of U.S. stockholders who use their proxies to press ethical and social justice issues, the Interfaith Center on Corporate Responsibility reported today. As the spring round of company stockholder meetings moves into full swing, a survey by the Interfaith Center, an agency related to the National Council of Churches, said a record 21 resolutions relating to Northern Ireland are on the agendas of American companies. That is an increase of four resolutions from the 1988 figure and it more than doubles the 10 presented in 1987, when concerns about Northern Ireland took a firm hold on church groups and pension funds, the major social responsibility investors.
December 28, 1988 |
American Brands Inc. stock rose in heavy trading Tuesday, extending its huge gains from Friday on rumors that Anglo-Dutch consumer group Unilever or another suitor may bid for the tobacco and office products company. American Brands ended the day up $1.75 at $69.50 a share on the New York Stock Exchange. The stock soared $10.125 to $67.75 last Friday on speculation that Unilever, the consumer products company that owns Lever Brothers, was considering a $90-a-share bid.
December 24, 1988 |
American Brands, a conglomerate that makes everything from Lucky Strike cigarettes to Master Lock hardware, saw its stock price jump on Friday on rumors of a takeover by Unilever, a British-Dutch consumer and food products giant. The rumors surfaced less than a year after American thwarted another takeover bid made by E-II Holdings Inc., a group of food companies. American, based in Old Greenwich, Conn., counterattacked by buying up E-II and later selling off parts of the company.
December 23, 1988 |
Unilever N.V., the Anglo-Dutch consumer products company that owns Lever Brothers, is rumored to be contemplating a $90-a-share bid for American Brands Inc., stock speculators said today. Shares in American Brands, a tobacco and office products company, soared $9.75 to $67.375 by 1:30 p.m. EST, just slightly off its earlier highs. The stock was the most actively traded on the New York Stock Exchange.
September 17, 1988 |
Shares of cigarette makers American Brands Inc. and Liggett Group Inc. were fired up by takeover speculation Friday after Liggett's biggest stockholder, Bennett LeBow, said he was interested in buying the larger American Brands. Traders were acquiring the shares of both companies amid wide-ranging speculation over what LeBow, a financial wizard who helped rescue Western Union from bankruptcy, might do next. American Brands stock surged $3.23 a share to $51.675. Liggett jumped $3 to $12.375.
September 16, 1988 |
American Brands said Thursday that Brooke Partners LP intends to acquire more than $15 million worth of American Brands' voting stock and may acquire more than 50% of its voting securities. The cigarette and liquor giant said Brooke Partners stated its intentions in a federal antitrust filing. The announcement was made Thursday evening after the stock market closed. American Brands dropped 37.5 cents to $48.375. It has about 110 million shares outstanding.
July 5, 1988 |
Corporate takeover artists have their pencils poised, ready to tick off names of targets. Expansion-oriented companies have their own acquisition plans, and executives nervous about low stock prices are mulling restructurings. But the looming question is just who is on these secret hit lists for the latter half of 1988, a period ripe for fast-paced buyouts.
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.