Kraft taken for $12.9B
NZPA-AFP
New York
Tobacco and food giant, Philip Morris Co. Inc., has announced it had gained control of Kraft Inc. for SUSI 2.9 billion ($NZ19.78). Philip Morris said in a statement 98 per cent of Kraft’s common stock had been tendered in response to
its buy-out offer and it would move quickly to merge the two companies’ activities. Philip Morris offered SUSIO6 a share for the Kraft stock, which had been trading at SUS6O a share when Philip Morris first proposed a buyout in mid-October. The tender offer expired on Friday.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19881207.2.165.17
Bibliographic details
Press, 7 December 1988, Page 45
Word Count
95Kraft taken for $12.9B Press, 7 December 1988, Page 45
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.