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Article: ALTERNATIVES INCLUDE SPINOFF, IMPROVING BOTTOM LINE Philip Morris has several options with Miller
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- February 5, 1997
- Author:
CopyrightCopyright 1997 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Miller Brewing Co. says it is not for sale.
Parent Philip Morris Cos. Inc. agrees.
Yet rumors to the contrary will not die. Recently, they have
been given impetus by a statement from Philip Morris that it was
"disappointed" with the launch of a new Miller brand and the fact
that, although profitable, Miller churned out money less quickly in
1996 than did other Philip Morris operations.
"I think you guys are wasting your time" checking rumors of a
sale, said Allan Kaplan, an analyst with Merrill Lynch & Co. in New
York City who follows the beverage industry. "I don't think anything
is going to happen. I don't think the people in Milwaukee who are
working for Miller have anything to worry ...