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FTC Grants Clearance / Sale of Nabisco Moves Forward 

Nabisco Group Holdings announced today that the Federal Trade Commission has granted clearance for the sale of Nabisco Holdings to Philip Morris Companies Inc.

As previously announced, Philip Morris will acquire by merger all the outstanding shares of Nabisco Holdings (NA), including NGH's 80.5 percent interest in NA, for $55 per share.

Upon completion of the sale of NA to Philip Morris, R J Reynolds Tobacco will acquire by merger all the outstanding NGH shares for $30 per share.

To resolve Federal Trade Commission concerns with the transaction, Philip Morris has agreed to the divestiture of Nabisco's intense mints and U.S. dry packaged dessert and baking powder businesses.

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