Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

Icahn makes bid to control Nabisco

Published on .

Nabisco Group Holdings shareholder Carl Icahn said on March 30 that he plans to offer $1.3 billion for 100 million additional shares of the company on April 4, a buy that would give the financier a controlling 40% stake of Nabisco. Mr. Icahn said that his first order of business upon electing a new board would be to consider the sale of the Parsippany, N.J.-based company, which consists mainly of the Nabisco Holdings Corp. food company. A provision adopted earlier this month enabling shareholders to buy stock at a steep discount if unwanted takeover efforts begin would have to be dropped to allow the cash tender offer.

Copyright March 2000, Crain Communications Inc.

Most Popular
In this article: