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Investor Gets OK to Buy RJR Stake: Bennett LeBow was cleared to buy a 15% stake in RJR Nabisco Holdings Corp. and has proposed breaking up the food and tobacco giant, the company said. The announcement created a flurry of buying interest in RJR Nabisco, whose stock closed up $1 at $27.75 on the New York Stock Exchange. RJR said it had no idea what New Valley Corp., controlled by LeBow’s Brooke Group Ltd., had in mind in seeking the stake but revealed that LeBow had previously proposed merging RJR with Brooke’s Liggett Tobacco. LeBow also suggested that Nabisco’s food operations would be spun off, leaving him in control of the tobacco brands. RJR Nabisco said it had reviewed the proposal and decided it was not viable.