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Rjr Nabisco Holdings Corp

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BUSINESS
November 6, 1996 | Times Staff and Wire Reports
Bennett LeBow's Brooke Group Ltd. filed a slate of nominees to replace the board of directors at RJR Nabisco Holdings Corp., one day after fellow financier Carl Icahn offered his own slate of 10 nominees. . . .
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BUSINESS
June 16, 1999 | Bloomberg News
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.
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BUSINESS
May 13, 1999 | From Reuters
Presiding over the last annual meeting of tobacco and food behemoth RJR Nabisco Holdings Co., Chairman Steven Goldstone said Wednesday that the $8-billion sale of international tobacco operations allowed a split into "two companies that are in really good shape." Goldstone, ending a tumultuous era storied in the movie and book "Barbarians at the Gate," called his experience at the helm "an interesting ride." "All's well that ends well," he said.
BUSINESS
February 17, 1996 | Times Staff and Wire Reports
RJR Says Spinoff Initiative Was Defeated: RJR Nabisco Holdings Corp. said it believes a nonbinding proposal calling for an immediate spinoff of its food business did not receive the necessary majority of shareholder votes. But the estimate was immediately challenged by dissident shareholder Bennett LeBow and his Brooke Group Ltd., which said it has not completed counting the votes for the controversial consent solicitation. The deadline for shareholder votes was midnight Thursday.
BUSINESS
March 7, 1996 | Times Staff and Wire Reports
RJR Nabisco Sets Shareholders Meeting: RJR Nabisco Holdings Corp., in a letter to shareholders released by the company, said the session will be April 17 in Winston-Salem, N.C. Investors Bennett LeBow and Carl Icahn, who hold 4.8% of the company's stock and are calling for an immediate spinoff of the Nabisco Holdings Corp. food unit, have attacked RJR for not disclosing the date earlier.
BUSINESS
April 28, 1999 | Reuters
* U.S. financier Carl Icahn said late Tuesday that he has withdrawn from a fight with RJR Nabisco Holdings Corp. intended to force a spinoff of RJR's foods business rather than its tobacco unit. Icahn, who has advocated a spinoff of the foods business, said several other large shareholders did not want to risk any delay in separating the food and tobacco units.
BUSINESS
March 13, 1999 | From Reuters
R.J. Reynolds Tobacco Co., the nation's second-largest cigarette maker, Friday sued its chief rival, Philip Morris Cos., accusing it of attempting to monopolize the U.S. retail cigarette market. In a federal lawsuit filed here, R.J. Reynolds said Philip Morris, maker of the top-selling Marlboro brand, is trying to corner retail space for its cigarettes through exclusive contracts with retailers.
NEWS
March 10, 1999 | JAMES F. PELTZ and MYRON LEVIN, TIMES STAFF WRITERS
RJR Nabisco Holdings Corp., hobbled by anti-smoking lawsuits and a crushing debt burden, said Tuesday that it plans to split its cigarette and food businesses and sell its foreign tobacco group for $8 billion. The proposed breakup is yet another example of a social movement and a legal crusade altering the fortunes of a major corporation. Litigation waged over the safety of asbestos insulation, breast implants and nuclear power have also forced major restructurings over the years in U.S.
BUSINESS
December 23, 1998 | From Reuters
Financier Carl Icahn on Tuesday reopened his long-running battle to break up RJR Nabisco Holdings Corp. into separate food and tobacco businesses with a threat to mount another shareholder vote at the next annual meeting. Rebuffed in two earlier attempts to force a break-up of the huge conglomerate, industry analysts said Icahn might have a better chance this time around.
BUSINESS
December 15, 1998 | Times Wire Services
Two giants in their industries announced restructurings on Monday that would put a big dent in earnings and could slash thousands of jobs, while another was reportedly on the verge of making a similar announcement. Royal Dutch/Shell Group, the world's largest publicly traded oil company, said it will take $4.5 billion in special charges in the current quarter in a radical restructuring that would shed businesses and cut costs by about $2.
BUSINESS
September 18, 1998 | From Reuters
Economic and political chaos gripping Russia has left RJR Nabisco Holdings Corp.'s R.J. Reynolds International tobacco unit no choice but to halt cigarette production there temporarily, a company spokesman said Thursday. Adam Bryan-Brown told Reuters that RJR, which has invested hundreds of millions of dollars over the last six years opening production facilities in Russia, has faced great difficulties in the Russian market.
BUSINESS
July 10, 1998 | Bloomberg News
Financier Carl Icahn has bought about 10 million shares of RJR Nabisco Holdings Corp., or about 3% of its outstanding shares, 15 months after he sold his stake following a failed attempt to take over the nation's second-largest tobacco company, said sources familiar with the purchases. Icahn couldn't be reached for comment; RJR had no comment.
BUSINESS
April 24, 1998 | From Times Wire Services
RJR Nabisco Holdings Corp. said Thursday that its profit fell 16% for the first quarter as it sold fewer cigarettes, spent heavily on reviving its Winston brand and saw its legal costs rise. The No. 2 U.S. cigarette maker earned $179 million, or 52 cents per diluted share, in the latest quarter, down from $213 million, or 62 cents a share, a year ago. Revenue rose 4% to $3.95 billion. The earnings results were in line with Wall Street expectations.
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