With Wednesday's $24.3 billion takeover of RJR Nabisco completed, opponents of the company's policies criticized Harvard's contribution to the deal.

The University has invested $20 to $40 million as one of 70 participants in a limited partnership managed by the Wall Street firm Kohlberg, Kravis, Roberts, and Co. (KKR), which will make the down payment for the buyout. It is not clear how much Harvard money will actually help finance the takeover.

RJR Nabisco stock was the most actively traded issue on the New York Stock Exchange yesterday, closing around $90 per share. KKR will give a package of securities and cash worth $109 per share for the company's stock, which was trading at less than $56 a share in October.

The tobacco and food giant has been called unethical for its aggressive cigarette promotion in Third World countries and for its role as the fourth-largest U.S. company doing business in South Africa.

Rob Weissman '88-'89, head of Harvard Watch, a group organized by consumer advocate Ralph Nader to monitor the University's corporate activities, said the University is "investing in companies marketing devices of mass murder."

"Harvard shouldn't seek to profit from the marketing of tobacco, and that's what they're doing in a pretty huge way," he said.

Experts have said the University may turn a 30 percent profit on its share in the buyout. Harvard also stands to benefit from its ownership of RJR stock, which has nearly doubled in value since the takeover bidding began five weeks ago.

A Harvard advisory committee on investment ethics has been investigating whether the University should pull out of RJR because of its heavy-handed advertising overseas.

Administrators did not comment on the deal yesterday. A spokesperson said President Bok was out of town.

"Maybe Harvard will take down the ivy and grow tobacco, since that's a moreprofitable product," said Greg Connolly SPH '78,an analyst for the state Department of PublicHealth and the World Health Organization.

Connolly called on Harvard to support aproposed RJR shareholder resolution that wouldestablish an independent panel to declare smokinga health hazard, curtail the company's tobaccopromotion and advertising, and force RJR to getout of the tobacco business by the year 2000.

"I hope Harvard will take a lead on that andnot just sit back," Connolly said. "Harvard doeshave a leadership role in what happens on othercollege campuses in the nation."

Connolly criticized the University for "sidingwith profit to own a company that basicallyrejects all the scientific findings of the last 25years and profits off death and disease in ThirdWorld countries."

Weissman also criticized Harvard for itsinvolvement in the KKR limited partnership. Underthe terms of the original agreement with KKR,participants have no say in how the investmentfirm uses their money.

"Harvard should not invest in blind trusts orgroup investments of any sort where they can'tcontrol the investment process or guarantee thatit will be in accordance with Universityinvestment guidelines," Weissman said.

Administrators have said that Harvard had a"contractual commitment" to participate in thetakeover. However, one investor, the Common-wealthof Massachusetts pension fund, successfullyrefused to allow its funds to be used in thebuyout, citing RJR's involvement in South Africa.

"The ethic of social responsibility does notinform Harvard's investment policy," saidWeissman.

Connolly said RJR's promotion of smoking incountries such as China is responsible for "anepidemic of unknown proportions from tobacco usethat has me, as a graduate of the Harvard Schoolof Public Health, appalled that Harvard Universitywould be [part-owner of] a tobacco plant inChina.