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Article: More Speculation on Philip Morris Spinoff
- Article from:
- Chicago Sun-Times
- Article date:
- May 24, 1994
- Author:
CopyrightCopyright 1994 Chicago Sun-Times. (Hide copyright information)
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NEW YORK Speculation that Philip Morris Cos., the maker of
Marlboro cigarettes, will decide to split off its tobacco division
was running high on Wall Street Monday ahead of a monthly meeting of
its board of directors Wednesday.
The case for a split of Philip Morris' tobacco from food units
was bolstered Monday by a multibillion-dollar takeover of baby food
maker Gerber Products Co., analysts said.
The Swiss pharmaceuticals giant Sandoz Ltd. said Monday it
would acquire Gerber in a $3.7 billion cash deal, underscoring the
value of the Philip Morris food operations.
The board of directors of Philip Morris, whose other operations
include Oscar Mayer, Miller Beer and suburban ...