European Stars And Stripes (Newspaper) - October 25, 1988, Darmstadt, Hesse The stars and stripes tuesday october 25,1988 makes bid for Rwjr Nabisco new York a the Stam Pede of bids for food companies intensified monday As the invest ment firm Kohlberg Kravis Roberts and co. Announced it would begin a s20.28 billion Lender offer for Rwjr Nabisco inc. The Kohlberg Kravis announce ment came four Days after manag ers of the food and tobacco products company said they were considering taking the manufacturer private for nearly j17 billion. Management has decided that the company should be sold. Our offer is a better one Henry Kra european weather of Mem 1 Lunetti Stoa a Rand Bufi i do Flat fld Loq in a Tref our him Hul of Goff Rowry hrs tin few a son win tap Rarry a Flor of Cut Wrt tug if hut an Ken a Kiva Kwh Jim 01t� in int fog a m Rihem Oer tit Tut tort How run or flt fun no Tranci i dad mud. To trud in Wrt Uit to Tan attn to Cupi h vol Uri a i Mlot i4ttv Filc fyn Fri l fish Tii 47-48 n n w Antrim Law j4-40 it uminrtl64 it cwt Fluom. T 50 s7 Unhul i w m8 61 m m Woltri. Be Haw. C h n we. If 77 5? Toronto t Tom. F 73 h ,-5ttm�ri a. A Talty ctn Udy a can to Riith to to temperatures kidhl41 vis a partner in the new York based leveraged buyout specialist firm said in a statement. The Kohlberg Kravis offer was for 190 a share in Cash and Securi ties compared with the manage ment buyout proposal of $75 a share in Cash. There was no immediate com ment from Rwjr Nabisco. Kohlberg Kravis had been expected to enter the whirlwind of bids for food companies that began oct. 4 with a $5.23 billion bid for Pillsbury co. By grand metropol Itan pc a British company. Kravis said his company had raised an equity Pool of$5.6 billion for leveraged buyouts. In a leveraged buyout investors borrow heavily to Purchase a com Pany. They then pay off he debt with the target company s Cash flow or the Sale of its assets. Securities analysts said last week the plan by Rwjr Nabisco manage ment was a preemptive strike to protect the company. It manufactures Many Well known brands including Winston and Camel cigarettes and oreo Coo Kies. Kohlberg Kra ii carried out the largest leveraged buyout in . History in 1986 when it look the food and consumer products conglomerate Beatrice cos. Private for $6,1 billion. The investment firm is also Lead ing a group that is attempting to acquire the publishing giant Mac Millan inc. For $2.5 billion. British publisher Robert Max Well who also seeks to buy Macmil Lan is fighting that bid in a Dela Ware court. Kohlberg Kravis recently with Drew a j5.03 billion bid for the supermarket operator Kroger co. After Kroger rejected the offer an said it would proceed with a Finan Cial restructuring. Conversion rates London up1 monday doling rates for the . Dollar to other currencies figures Are expressed in dollars to the British Pound other local currencies in dollars to pm it Gnu Cloud it we 7s in am if it 1822, Del 21bnmi Pond i.76m 17975. Zzz .-.a1 "15 _ 2.0170 out ankh pm 1., .-14710tuasflln. .1.641 do T.14j�._1,i9w .izisb.-9944
