Word: kohlberg
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Harvard officials said this week that the University will take on a new role with RJR-Nabisco, the tobacco and consumer goods company recently taken over by Kohlberg, Kravis, Roberts and Company in the largest leveraged buyout ever...
...such controversy was Harvard's investment in Kohlberg, Kravis, Roberts & Company, which took over RJR-Nabisco this fall in a leveraged buyout. Under the conditions of Harvard's agreement with KKR, the University did not have the right to refuse participation in the buyout or investment in RJR-Nabisco...
...shocking protest over his company's involvement in tobacco, the Big Fig Newton hangs up his green booties for good. RJR-Nabisco's new owners, the takeover giant Kohlberg, Kravitz and Roberts (a.k.a. Harvard's slush fund), fill his pointy shoes with another prominent ambassador of good will. "Indeed, it is a profound honor to assume such a prestigious post. It is a veritable step up the ladder, one might say," former Dean of Students Archie C. Epps III tells Gourmet magazine...
...BODACIOUS BIDDER RJR Nabisco chief Ross Johnson and some colleagues offered to buy out the company for $17.6 billion in a deal that could have netted Johnson $100 million. The bidding eventually hit $25 billion, but RJR directors rebuked Johnson and awarded the company to the Manhattan buyout firm Kohlberg Kravis Roberts. Last week the House Energy and Commerce Committee announced a probe of the deal...
...anatomy of the recent leveraged buyout of RJR Nabisco by the firm of Kohlberg, Kravis, Roberts--helped out by some $20-40 million from Harvard's endowment--sounds great on paper and is worth as much. Leveraged buyouts, in which huge companies are bought and sold and divided and merged solely for the purpose of raising the stock values, are running wild in America...