April 4, 2000 |
Nabisco Group Holdings Corp. on Monday again rebuffed a bid by financier Carl Icahn to seize control of the company, but this time Nabisco Group said it would weigh alternative moves--including a sale of the firm. Nabisco Group's sole asset is an 80.5% ownership stake in Nabisco Holdings Corp., the snack maker whose products include Ritz crackers, Oreo cookies and LifeSavers candies. The rest of Nabisco Holding's stock is publicly held.
December 8, 2000 |
The Federal Trade Commission approved the sale of Nabisco Holdings Corp. to Philip Morris Cos. on the condition the firms make five divestitures in overlapping product lines. The companies must sell Royal Brand gelatin dessert mix, Royal Brand dry mix pudding, Royal Brand no-bake dessert and Davis & Fleischmann's baking powder and Icebreaker mints. The divestitures must be completed within 10 business days of the time they complete the merger. Shareholders of both firms approved the deal Oct.
August 22, 2000 |
* Philip Morris Cos. and Nabisco Holdings Corp. received a request for additional information from the Federal Trade Commission regarding Philip Morris' proposed $18.9-billion purchase of the snacks and cookie maker. On the NYSE, Philip Morris rose 19 cents to close at $32.19, while Nabisco Holdings fell 31 cents to $53.63, and its parent, Nabisco Group Holdings Corp., fell 13 cents to $28.31.
June 16, 1999 |
RJR Nabisco Holdings Corp.'s largest shareholder, financier Carl Icahn, sold his 8% stake in the company as it split into separately traded food and tobacco businesses. Icahn, who for four years had tried to wrest control of RJR, pocketed a $130-million profit from selling his 25.7 million shares at $31.87 per share minutes before the close of trading Monday. Icahn's sale comes as R.J. Reynolds Tobacco Holdings Inc., the No. 2 U.S.
May 6, 2000 |
Nabisco Group Holdings Corp., whose shares have almost doubled since financier Carl Icahn began a takeover attempt five weeks ago, said Friday that other groups may bid for the company, its snack unit or other assets. "We've received lots of interest," said spokesman Hank Sandbach, who declined to give additional specifics. Nabisco Group last month said it will consider options such as selling itself or its only asset: an 80.5% stake in Nabisco Holdings Corp.
September 6, 2000 |
Trinity Industries Inc., the largest U.S. maker of railroad cars, said financier Carl Icahn intends to buy more than $15 million of its stock but less than 10% of the shares outstanding. Based on Friday's closing price of $19.50, a $15-million investment would give Icahn 769,231 shares, or 2.1% of the company's outstanding stock. Shares of Dallas-based Trinity rose $1.28 to close at $20.78 on the NYSE. The shares had fallen 39% in a year.