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Di Giorgio Rejects Bid for Goldberg Takeover

June 21, 1989|From United Press International

SAN FRANCISCO — Di Giorgio Corp., a food distributor and building materials company, has rejected a $153-million takeover bid by New Jersey investor Arthur Goldberg, the company said Tuesday.

In a two-sentence letter to Goldberg dated Monday, Di Giorgio Chairman Peter Scott declared that "the company is not for sale" and said the board was not interested in negotiating with Goldberg.

Goldberg, who owns 14.1% of Di Giorgio's common stock, offered $30 a share for the company June 7. At the time, he said the price represented a "significant premium" over what the stock would be worth if it was not surrounded by takeover rumors.

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