June 9, 1998 |
Nabisco Holdings Corp. on Monday unveiled a sweeping restructuring that includes shutting some plants and warehouses, firing about 3,100 workers and sharply hiking promotional spending. The nation's largest maker of cookies and crackers said it plans to take a second-quarter restructuring charge of about $268 million, or three times estimated earnings, and take another pretax charge of $118 million over the next year as it reduces its work force by 6%.
March 12, 1999
Icahn Tries Again: Financier Carl Icahn today will try once again to take over RJR Nabisco Holdings Corp.'s board in a bid to force it to spin off its Nabisco foods business instead of its U.S. cigarette unit, a move RJR's chief executive promptly rejected as impractical. Icahn's bid--his third in less than five years--comes just two days after RJR announced plans to sell its ailing international tobacco operations and then spin off its domestic cigarette business, R.J. Reynolds Tobacco Co.
May 16, 2000 |
French food and water company Danone formally jumped into the bidding for Nabisco Group Holdings, saying it had entered preliminary discussions to buy the U.S. food maker. With the confirmation, the Paris-based company joined financier Carl Icahn and an estimated dozen other prospective bidders for the holding group, which owns 80% of operating company Nabisco Holdings Corp. Icahn, who has been trying to take control of the company sporadically since 1995, sweetened his latest bid to $6.
February 21, 1996 |
A dissident group of shareholders said Tuesday that it had won majority backing for its nonbinding proposal that RJR Nabisco Holdings Corp. immediately spin off its food business. The results, if they hold up on closer examination, are a blow to the tobacco company, which had vigorously campaigned against the proposal. RJR had said late last week that its own preliminary count showed the proposal failed to get a majority vote.
April 9, 2000 |
Carl Icahn is a corporate raider who's spent the last 20 years being a company's worst nightmare or a stockholder's best friend, depending on your view. But this much is true either way: Icahn's in it for the love of the game. Icahn got very rich and nearly became a household name in the 1980s as a raider of the first order, making headlines with other financiers such as T. Boone Pickens Jr.
June 26, 2000 |
Philip Morris Cos., parent of Kraft Foods, on Sunday agreed to buy cookie and cracker giant Nabisco Holdings Corp. for $14.9 billion, making the nation's largest food company even more powerful with brands on virtually every supermarket aisle. The announcement comes at a time when many of the largest players in the slow-growing food business have been looking to consolidate in order to cut costs, boost sales and increase their clout with grocery retailers.
November 1, 1994 |
RJR Nabisco Holdings said Monday that it plans to sell 19% of its Nabisco food business to the public for more than $1 billion in what many industry observers said might be the first step in a long-awaited breakup of the food and tobacco giant. But the proposed stock offering--proceeds from which would be used to reduce bank debt--met with lukewarm response from many food and tobacco analysts.