Edelman PR linked to Kraft Foods IPO

CHICAGO: Edelman Public Relations is expected to pick up IR and

other communications work associated with Kraft Foods planned dollars 5

billion stock offering.



Edelman is Kraft's long-time agency of record, but some Kraft observers

had speculated it might turn to BSMG's FRB unit, an IR specialist, to

complete its IPO. Industry watchers estimated fees for the project could

easily be in the mid-six-figure range.



In its April 17 quarterly earnings statement, Kraft parent Philip Morris

said it hoped to stage the food company's IPO by the end of the second

quarter.



Wall Street watchers had predicted Kraft's shares might be a safe buy

for investors spooked by recent stock market weakness. But even after

the stock sale, Kraft will be controlled by Philip Morris, which means

protests and boycotts by anti-smoking groups such as INFACT could still

affect its share price.



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