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Article: PHILIP MORRIS IS EXPECTED TO MAKE FEW CHANGES AT KRAFT
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 1, 1988
- Author:
CopyrightCopyright 1988 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK - The intense, two-week takeover battle for Kraft
Inc. was rather like the storm before the calm.
Industry analysts yesterday said 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
said, ...