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Article: FEW CHANGES EXPECTED AT KRAFT FOLLOWING PHILIP MORRIS BUYOUT

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THE JOURNAL RECORD
Article date:
November 1, 1988
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NEW YORK (AP) - The intense, two-week takeover battle for Kraft Inc. was rather like the storm before the calm.

Industry analysts said Monday that they expect the victor, Philip Morris Cos. Inc., to make few changes in the food company it is buying for $13.1 billion.

``I suspect we'll have Kraft left alone for a year,'' said Ronald B. Morrow, who tracks both companies for the investment firm Smith Barney, Harris Upham & Co.

Diana Temple, an analyst with Salomon Brothers Inc., agreed, saying, ``It appears that both companies will be run separately.''

Morrow based his prediction on Philip Morris' history.

``When they bought General Foods, they left it alone for two years,'' he ...

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