Word: nabisco
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...early 1970s, "smoke is beyond question the most optimized vehicle of nicotine and the cigarette the most optimized dispenser of smoke," and that as early as 1963 B&W executives knew nicotine was addictive. "Of course it's addictive," F. Ross Johnson, former CEO of RJR Nabisco, told the Wall Street Journal two years ago. "That's why you smoke...
...keep a secret -- exceptDisney chairman Michael Eisner. He stunned both Wall Street and the entertainment industry when he announced this morning thatDisneywill acquire Capital Cities/ABC in a $19 billion merger. The deal would be the second-largest takeover in U.S. history (behind the $25 billion takeover of RJR-Nabisco in 1989) and the largest ever in the media business. Getting hitched to family-friendly Disney may mean top-rated ABC will see its competitors exploiting new counterprogramming opportunities. "I think ABC will probably steer away from the more lurid programs, which might make the other networks go in that direction...
...happens--a big if--the $22.8 billion deal would be the largest takeover since RJR Nabisco was bought six years ago at $25 billion. However audacious, it would be nothing out of character for Kerkorian, a lifelong dealmaker who loves to buy companies but doesn't much like to run them. At MGM/UA, the movie studios he bought, then stripped of their most valuable assets, he juggled management regularly but rarely interfered in studio decisions. He never even attended screenings. "When he went to the movies, he'd stand in line with everybody else at a theater in Westwood...
...back. He and billionaire investor Kirk Kerkorian are attempting to buy the No. 3 automaker for $22.8 billion. Their lavish, unsolicited $55 per share proposal -- more than 40 percent above yesterday's closing stock price -- would be the biggest U.S. corporate takeover since the $25 billion buyout of RJR Nabisco by Kohlberg Kravis Roberts in 1988. Today's surprise announcement boosted Chrysler stock and prompted Chairman Robert Eaton to scrap a scheduled New York auto show speech.TIME Detroit bureau chief William McWhirtersays Chrysler is well positioned to fight a takeover because of its profitability, as well as Eaton's financial...
...corporate takeovers of the 1980s, the reagan Administration was a wallflower at the orgy. Free-market philosophy discouraged government from interfering in corporate combinations. Capital Cities lapped up ABC. R.J. Reynolds gulped Nabisco. Under George Bush the outlook shifted a bit, but when understaffed government lawyers went to court, they mostly lost. Anne Bingaman, Bill Clinton's chief of antitrust, roared into work promising a different world. As a warning shot she got Congress to fund 61 new antitrust attorneys. At a Washington conference a few weeks ago, she gave the word once again to companies that try to corner...