Word: rjr
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Confused? Well, there is a germ of reason amidst all this dizzying dealmaking: As a result of the RJR-NGH merger, NGH manages to consolidate any pending lawsuits under the umbrella (and considerable legal expertise) of RJR. Meanwhile, analysts theorize, Philip Morris will move quickly to spin off its tobacco holdings...
Formed just 10 years ago in a blockbuster $25 billion deal, tobacco giant RJR Nabisco is letting go of its international tobacco holdings and -- perhaps more significant -- is splitting up its food and tobacco divisions at home. Japan Tobacco Inc. is set to buy RJR's international tobacco business for $8 billion. But it's the stateside activity that's raising more eyebrows: Analysts say that by splitting its domestic tobacco division and Nabisco food group into two separate entities, the company will ostensibly create a new stock that could remain impervious to market reactions over future tobacco suits. This...
...RJR said in the past that it wanted to spin off its food unit but couldn't because of the legal quagmire it was trapped in during the tobacco suits," says Kadlec, adding that the time is long past when people could claim to have smoked without knowing the risk. "People under a certain age have no claim. The real harm is known, and there may be some suits, but this move makes good business sense. Now it's time for the company to go forward." But don't expect those with smoking-related illnesses to sit back quietly. Legal...
...YORK: Did you really think tobacco companies were going to foot the bill for that $206 billion payout to the states? Kings-of-smokes Philip Morris and RJR announced Monday that they would be raising cigarette prices by 45 cents a pack. The rest of the Big Five are expected to follow suit -- this despite analysts' calculations that the 25-year settlement could be paid for with increases of only 35 to 40 cents...
...people spoke of eclipsing Roger Maris and the corporate types spoke of rebuilding downtown areas with shiny new old-time baseball arenas. No more cookie-cutters! More ballparks with character; with nooks and crannies and doodads and gobblygooks and plush seats and waiter service for RJR Nabisco's senior executive vice president in charge of bureaucracy...