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RJR gains support

Published on .

Bennett LeBow's chances of winning a proxy fight for RJR Nabisco Holdings Corp. may have worsened today with the decision of an influential investor advisory group to side with RJR's management. Institutional Shareholders Services, which originally said a spinoff of RJR's tobacco unit from its Nabisco unit would benefit stockholders, today said Mr. Lebow's settlement of a lawsuit on behalf of Liggett poses "as substantial risk" to RJR shareholders. The proxy fight will take place at RJR's annual meeting on April 17.

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