Tobacco Documents Online

r C . I a T' 'r t, j {. ~ Philip Morris Bids For English Firm , J I LONDON. - (AP) - -P Mo~is the American cigaret company, has made a bid of 11.5 UmiIIion pounds - $27.6 million - to take over the British tobacco I N;firm of Godfrey Phillips,,makers ~ ~of Muratti' and Abdulla cigarets. A joint statement issued Sun• v_iday by the two companies saida Nj"Terms have been agreed for the acquisition by Philip Morris II Q jor cae,h of the whole of the is-I '111~11jsued ordinar~ share capital of iGodfrey Phillips." The American company agreed o buy $839,625 ordinary shares D at 20 cents each; a'total of $1.46 millipn. The shares, mainly held ~ by family directors of the Brit- ish firm, represent 36 percent of the votes of the ordinar), CapitaL,,, , , , (9) WVAUKEE JOURNAL MILWA(1KEE, WISC. D. 3C3,520 SUrl. 561,851 AUG 1 9 1968 &2.49-. Philip Morris Bids for Firm London, England -AP - ,p;Jyjl_ ip Morris, the American ciga-' ret com an h d a b ($2.40) ordinary stock units. ~ p y, sma ea ldof 11.5 million pounds - $27.6 million - to t a k e over the British tobacco firm of God- frey Phillips, makers of Murat, ti and Abdulla cigarets. The American c o m p a n y agreed to buy 839,625 ordinary shares at 20c each, a total of $1.46 m 111 fo n: The shares, mainly held by family direc- tors of the British firm, repre- sent 36% of the votes of the ordinary capital. Philip Morris also offered to buy all outstanding one pound Rocky Mo1)ntain News DENVER, CD('0. D. 1(1,1;!133' SUIN. 209!571 AU G 1 9 1968 41 The Courier-Journal August 19,1968', Page A2 lan24o2wA A2 Philip Morris Bids to Control British Firm LONDON (AP), - Philip Morris, the American cigarette company, has bid 11'.5 million pounds-$27:6 million-to takee over the British tobacco firm of Godfrey Phillips, makers of Muratti' and Abdulla cigarettes. A joint statement issued yesterday by the two companies said: "Terms havee beeniagreed for the acquisition by Philip Morris for cash of the whole of the issued ordinary share capital' of Godfrey Phillips: " The American, company agreed to buy 839,625 ordinary shares at 20 cents each,, a total of $1164 million. The shares„ mainly held by family directprs of the British firm, represent 36 per cent of the votes of'the ordinary capital. Philip Morris also offered to buy all outstanding one-pound ($2.40) ordinary stock units. Firm Has U.S'Interests Godfrey Phillips has interests In the United States in tobacco, greeting card and printing businesses. It has affiliates and interests in Australia, New Zealand,. India, Pakistan, Ceylon and Malaysia. The statement said British government currency exchange controli authorities are.expected to consent to the deal. Philip Morris earlier failed in a bid to buy control of the giant British Gal- lahers firm that manufactures Senior Service cigarettes. Godfrey Phillips, head of the British firm, said 87 per cent of its profits in 1967 came from, its overseas operations. The company's annual report showed a net profit' last year of $1,816,228;80. z-t.tjr ~nitrnal nt siamsmrre fVfl4~J YORK, N. Y. D. 23;261 AU G 2 0 1968 ~& Philip Morris Bids ~ For Godfrey Phillips Special to Journal of Commerce LONDON, Aug. 19 Phili Mo ' the American i eg an ', aten in the muiti-mil+ Hon"pound struggle for control of Gallahers, Britain's senior service firmi came back with an tll% million ($27.6 mifflon) bid for Godfrey Phillips, the Abdul- ~a firm. )For the f1 ($2.4) shares quot ed on the London Stock Ex- change the bid is worth 145 shil- lings ($17.40) against a Friday ~ night closing level of 119 shil- , ~ lings ($14.28). ` ~ , ~ A joint statement said "fo7- V" lowing discussions between the N two companies, terrns have ,~ been agreed for the acquisition V by Philip Morris for cash of the ~ whole of the issued ordinary share capital of Godfrey Phil- N hps. O "Assurances 'have been re- ` ceivecfi that the necessary ex- \ change control consents will be forthcoming." _ . ., 1 . ' Godfrey Phillips makes dga- ' rettzs under the . Abdulla, De ! Reske, and Four Square names, while its pipe tobacco6 Include Boars Head and it is also a leading importer of cigars. Last year 87 per cent of its profits came from abroad~ where it is strong in Australia, India, and Pakistan with stakes in Ceylon~and New Zealand." (~? hC XPltt 17l1xlt ilttltr,8 NEW YORK, N. Y. D. 840,475 SUN: 1,494,704 ~ AUG 2 1 1968 ~~~ rPhiiip Morris Buys Concern LONDON, Aug. 20 (UPI)- Phili Mor appeared to- ay o ave succeeded in ac- quiring control of Godfrey Phil- lips, Ltd., a British tobacco .., • .~ company. I