Reynolds’ Nabisco offer was oversubscribed.

R. J. Reynolds Industries says it has been offered 91% of Nabisco Brands’ outstanding common stock in Reynolds’ bid to take over Nabisco. Reynolds had sought 50.2% of Nabisco’s outstanding stock with a tender offer of $85 per share. The company said a preliminary report from its depositary, First Fidelity Bank, showed that about 52.5 million shares had been offered by midnight July 1, the expiration date of the tender offer.