Article: Philip Morris buys Nabisco despite tobacco lawsuit

Philip Morris buys Nabisco despite tobacco lawsuit

Miller to stay in company umbrella, though some spinoff rumors arise

Tuesday, June 27, 2000

New York -- Philip Morris Cos. agreed to buy Nabisco Holdings Corp. for $14.9 billion, adding Oreo cookies and Ritz crackers to its Kraft Foods business, even as its domestic tobacco subsidiary faces the possibility of a multibillion-dollar penalty in a class-action suit in Florida.

Philip Morris will pay $55 a share in cash for Nabisco, its biggest purchase since the takeover of Kraft in 1987, and assume $4

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