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• FTC Approves Plan by Philip Morris, Nabisco to Sell Several Food Brands 

In announcing the regulatory approval, Philip Morris also said Nabisco's North American assets will be integrated into Kraft Foods North America, based in Northfield, Ill., and that Betsy Holden, president and chief executive of the Kraft unit, will lead the process. Nabisco's international brands will be folded into Kraft Foods International, under the direction of Roger K. Deromedi, president and chief executive of that division, which is based in Rye Brook, N.Y.

Philip Morris agreed in June to purchase Nabisco's food operating unit for $14.91 billion. The combined food company will have revenue of about $35 billion.

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