Word: nabisco
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Dates: during 1980-1989
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...agencies. Now that the merger mania is over, many clients are passing loud and painful judgment on the results. Their verdict so far: bigger is not necessarily better. An unprecedented parade of coveted clients has quit the two supergroups for smaller agencies. One such advertiser is RJR Nabisco, which took away $32 million in accounts (example: Fleischmann's margarine) from Omnicom and $96 million from Saatchi & Saatchi/Ted Bates. Declared RJR Nabisco Chairman J. Tylee Wilson, speaking at an advertising convention two weeks ago in Virginia: "The wave of mergers has benefited the shareholders and managements of the agencies...
...PepsiCo, it was a finger- lickin' good deal. The secondlargest U.S. soft- drink manufacturer (1985 sales: $8.1 billion) announced last week that it had agreed to acquire Kentucky Fried Chicken, now owned by RJR Nabisco, for about $850 million. If the deal goes through, the purchase of the 6,500 KFC restaurants will give PepsiCo, which already owns Pizza Hut and Taco Bell, some 14,000 fast-food outlets, more than any other chain. McDonald's, with 9,000 stores, is the current leader...
...value spurted as a result of the tender offer, he cleared a $95,000 profit. Levine bought 33,000 shares of Carter Hawley Hale and made $222,000. Sokolow, meanwhile, leaked advance information to Levine about Litton Industries' 1982 bid for Itek and R.J. Reynolds' 1985 offer for Nabisco Brands. For those tidbits, the SEC said, Sokolow was paid...
...Tobacco was under attack once again last week. The Federal Trade Commission formally charged the R.J. Reynolds Tobacco Co. (now a subsidiary of RJR Nabisco Inc.) with illegally misleading the public in purporting to summarize the results of a ten-year, $115 million U.S. Government-funded research study on the relationship between smoking and heart disease, among other things. Reynolds described the project, known as the Multiple Risk Factor Intervention Trial, in an advertisement that ran in various publications from February through June 1985. The company's conclusion: "The controversy over smoking and health remains an open...
...joining Lehman Bros., he bought 50,000 shares of Itek. He sold the stock two months later, after Itek was acquired by Litton Industries, netting $805,035. By last May Levine had joined Drexel Burnham Lambert, and in his most lucrative deal yet, he bought 150,000 shares of Nabisco. Three weeks later, speculation over Nabisco's merger talks with R.J. Reynolds enabled him to sell the stock for a profit...