Philip Morris Cos., owner of Kraft Foods, Miller Breweries etc, said on Sunday it reached an agreement to buy Nabisco Holdings, maker of brands such as Oreo cookies and Grey Poupon mustard, for $14.9 billion. The complicated deal, which values Nabisco Holdings at $55 a share, also involves the sale of Nabisco’s parent company, Nabisco Group Holdings Corp. to former unit R.J. Reynolds Tobacco(Yahoo Biz) and As part of the acquisition, Nabisco will be combined with Kraft Foods, Inc. (Kraft), the operating food company of Philip Morris Companies Inc.(Philip Morris Site)(6-26-2000)
