November 7, 1995 |
United Biscuits to Sell Keebler Unit: United Biscuits agreed to sell its Keebler Co. cookie unit to Inflo Holdings, a joint venture between bread maker Flowers Industries Inc. and a Luxembourg-based investment fund, in a transaction valued at $500 million. The sale of America's second-largest cookie company marks the first phase of United Biscuits' flight from the United States, where it has been battered both by larger cookie and salty snack-food rivals, such as Nabisco Holdings Corp.
October 27, 2000 |
Kellogg Co. agreed to buy Keebler Foods Co. for $3.6 billion, or $42 a share, adding the faster-growing cookie and cracker categories to its sluggish breakfast-cereal business. The cereal giant also reported a 6.5% rise in third-quarter profit and said it "may be challenged" to meet fourth-quarter earnings estimates. Keebler's biggest shareholder, Flowers Industries Inc., put its 55% stake up for sale in July. Keebler, whose products include Cheeze-It crackers, had sales of $2.
February 2, 2001 |
Verizon Communications Inc. said fourth-quarter earnings crept up 1.4%, helped by the addition of long-distance telephone customers in New York, while Sprint Corp. said profit declined on weak sales. Verizon, the nation's biggest local phone company, said profit from operations rose to $2.11 billion, or 77 cents a share, in its fourth quarter, matching the average estimate of analysts polled by First Call/Thomson Financial. Verizon's sales rose 6.7% to $16.
November 7, 1995 |
International Paper Co., Johnson & Johnson, Central & South West Corp. and several other companies announced takeover agreements Monday, contributing to what appeared to be a record day for corporate marriages. The deals, along with First Interstate Bancorp's announcement of its proposed acquisition by First Bank System Inc., totaled more than $19 billion in value--clinching a record year for company mergers.
January 29, 1995 |
A political committee spearheaded by House Speaker Newt Gingrich (R-Ga.) collected more than $7 million over a five-year period, much of it by soliciting large donations from corporate executives with major interests pending before the federal government, records show. The GOP Action Committee (GOPAC) played a significant role in the election of a Republican majority to Congress last fall by recruiting and supporting local candidates.