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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...

Author: /time Magazine | Title: Why Philip Morris Gobbled Up Nabisco | 6/26/2000 | See Source »

...Tobacco giants Philip Morris and R. J. Reynolds unveiled a deal Sunday that would make any street-corner sleight-of-hand practitioner proud. Philip Morris will supplement its already prodigious Kraft Foods properties by buying Nabisco Holdings, producer of national treasures like Oreos and Ritz crackers, for $14.9 billion. Once that transaction is completed, Nabisco Group Holdings (the parent company of Nabisco Holdings), will be acquired by the R. J. Reynolds tobacco company - the same company Nabisco Group divested itself of just one year ago - for $9.8 billion...

Author: /time Magazine | Title: Why Philip Morris Gobbled Up Nabisco | 6/26/2000 | See Source »

Sunday's RJR-Philip Morris machinations are only the latest round in the companies' ongoing attempts to isolate risky tobacco holdings. Faced with an increasingly unfriendly American marketplace, the corporations are scrambling to protect the stock market performance of non-controversial products (such as like Kraft mayonnaise and macaroni and cheese) from from the legal and legislative vagaries affecting the domestic tobacco market...

Author: /time Magazine | Title: Why Philip Morris Gobbled Up Nabisco | 6/26/2000 | See Source »

...much for Big Tobacco, though - analysts predict the spun-off companies will worry less about the U.S. market as they focus their energies on the burgeoning demand for cigarettes abroad. In tobacco-mad China and Africa, nothing stands between the Marlboro Man and a whole new generation of pack-a-day smokers...

Author: /time Magazine | Title: Why Philip Morris Gobbled Up Nabisco | 6/26/2000 | See Source »

...majority of people who play on PCs and video consoles are over 18. Tens of billions of dollars are being spent by the likes of Microsoft and Sony to ensure that they'll still be customers at 81. The odds are in the video-games makers' favor; even Big Tobacco doesn't have a product this addictive...

Author: /time Magazine | Title: Will I Still Be Addicted To Video Games? | 6/19/2000 | See Source »

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