Word: rjr
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Dates: during 1980-1989
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...story appearing in Tuesday's Crimson incorrectly stated the position of the Advisory Committee on Shareholder Responsibilty (ACSR) on University holdings in tobacco companies, including RJR-Nabisco. The ACSR requested that the Corporation write letters to RJR-Nabisco and Philip Morris asking the companies to explain their marketing techniques in developing nations. The Corporation sent these letters in August. The ACSR will make no further recommendation until Harvard receives replies to these requests...
...Commonwealth of Massachusetts Pension Fund said yesterday it does not want its shares in an investment partnership, of which Harvard is a member, used in the hostile takeover of RJR Nabisco...
...both the Mass. fund and the ITT Corporation, which are limited partners in the bid, have complained that Kohlberg, Kravis, the general partner in the arrangement, is following a hostile takeover strategy, since RJR Nabisco's board of directors has not consented to the plan...
Harvard, however, has not expressed any concern about the takeover, though the Corporation, which owns the University, wrote letters to RJR Nabisco over the summer questioning the company's "heavy-handed" smoking promotion tactics in developing nations...
Harvard currently owns stock in RJR Nabisco, and so will profit from the partnership's takeover of the company and will also stand to gain from the purchase of the Nabisco stock...