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BUSINESS
July 19, 2000
* Flowers Industries Inc. and Keebler Foods Co. said they're considering alternatives, including the sale of Keebler, the second-largest U.S. cookie-and-cracker maker that's 55%-owned by Flowers. Flowers also said it plans to spin off to Flowers shareholders its non-Keebler assets, including its namesake bakery business and Mrs. Smith's frozen-pie unit. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at: http://www.latimes.
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BUSINESS
July 19, 2000
* Flowers Industries Inc. and Keebler Foods Co. said they're considering alternatives, including the sale of Keebler, the second-largest U.S. cookie-and-cracker maker that's 55%-owned by Flowers. Flowers also said it plans to spin off to Flowers shareholders its non-Keebler assets, including its namesake bakery business and Mrs. Smith's frozen-pie unit. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at: http://www.latimes.
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BUSINESS
November 7, 1995 | Times Staff and Wire Reports
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.
BUSINESS
May 2, 1996 | Times Staff and Wire Reports
Smucker Pie Unit Gets Different Buyer: Orrville, Ohio-based J.M. Smucker Co. scrapped the sale of its Mrs. Smith's frozen-pie business to ConAgra Frozen Foods and is selling it instead to Flowers Industries Inc. Smucker did not disclose the terms of the sale or why the sale to ConAgra fell through. The sale will result in a fiscal 1996 charge of 4 cents a share. Thomasville, Ga.-based Flowers makes baked goods and snacks under the names Flowers, Nature's Own, Rich Grain, Buttermaid and Sunbeam.
BUSINESS
October 27, 2000 | Bloomberg News
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.
BUSINESS
February 2, 2001 | From Bloomberg News and Reuters
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.
BUSINESS
November 7, 1995 | PATRICK LEE, TIMES STAFF WRITER
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.
NEWS
January 29, 1995 | ALAN C. MILLER and GLENN F. BUNTING, TIMES STAFF WRITERS
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.
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