May 2, 1996 |
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.
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.