Word: nabisco
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...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...
Critics fault the Harvard Management Corporation (HMC) for contributing $20 to $40 million to a limited partnership of 70 investors whose funds were used in the $24.3 billion buyout of food and tobacco giant RJR Nabisco last November...
...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...
...Drexel still displays its characteristic moxie. The firm is handling a $3.5 billion junk-bond offering as part of the $25 billion leveraged buyout of RJR Nabisco. For its share in financing history's largest takeover, Drexel expects to take in $229 million before expenses. Many clients still profess their allegiance. Says raider and oilman Pickens, who relied on Drexel's financing clout to make bids for Gulf Corp. and Phillips Petroleum: "I have the highest regard for Fred Joseph...
MOST 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...