OTHER NEWS - Oct. 12, 1992
From Times Staff and Wire Reports
Philip Morris Plans Chocolate Expansion: Philip Morris Cos. told shareholders of Freida Marabou that it plans to expand the Scandinavian chocolates business if it succeeds with its $1.5-billion takeover offer. The U.S. consumer products giant made the disclosure in an offering document it began sending to shareholders Saturday. The offer, recommended by Freia’s board, will be open from today until Nov. 11, the document said. For the deal to succeed, holders of at least two-thirds of Freia shares have to accept. Norway’s Labor government must also approve the takeover.
