American Stores Inc

American Stores Inc., parent company of the Lucky supermarket and Sav-On Drugs chains, will soon begin a $50-million project to renovate a former Ralphs-Food 4 Less supermarket warehouse on Harbor Boulevard, a project that city officials said could create hundreds of new jobs. City Council members approved the project this week. "This is going to be a significant boost to the work force," Mayor David M. Cheverton said. "It's a great project for this city. . . . I can't wait to see it finished."

American Stores Inc., parent company of the Lucky supermarket and Sav-On Drugs chains, will soon begin a $50-million project to renovate a former Ralphs-Food 4 Less supermarket warehouse on Harbor Boulevard, a project that city officials said could create hundreds of new jobs. City Council members approved the project this week. "This is going to be a significant boost to the work force," Mayor David M. Cheverton said. "It's a great project for this city. . . . I can't wait to see it finished."

American Stores Inc. must sweeten its bid for Lucky Stores Inc. by May 17 or give up its current bid for the Dublin-based supermarket chain, according to an agreement granting American Stores access to certain non-public information regarding Lucky's operations. Lucky, which has resisted being taken over by the owner of the rival Alpha Beta supermarket chain, said it agreed to share the confidential information while ensuring a number of protections for its shareholders.

For the second day in a row, the stock of American Stores Inc. gained sharply in heavy trading Wednesday on stock market speculation that the company is undervalued and could be vulnerable to a takeover attempt. The Irvine-based food and drugstore giant declined to comment on the market rumors. American Stores stock closed Tuesday on the New York Stock Exchange at $57.375 per share, up $2.125, on volume of 220,400 shares. Average daily volume for the stock is about 84,700 shares.

The owner of Alpha Beta and Sav-on Osco stores--which has grown to a $14-billion drug and food giant in less than two decades--has achieved its growth record primarily by acquiring established, usually successful, companies. On Monday, American Stores Inc., with headquarters in Salt Lake City, proposed to add another name to its properties, bidding $1.74 billion for Lucky Stores Inc. of Dublin, Calif. "American Stores . . .

Lucky Stores Inc. today accepted a $2.35-billion takeover bid from the New York-based investment group Gibbons, Green, Van Amerongen, appearing to block a hostile assault by American Stores Inc. Lucky Stores said a new Gibbons, Green subsidiary will offer $61 a share by next Wednesday for about 35.7 million shares of Lucky Stores common stock, or about 92% of those outstanding. The announcement appeared to thwart American Stores, the third-largest U.S.

For the second day in a row, the stock of American Stores Inc. gained sharply in heavy trading Wednesday on stock market speculation that the company is undervalued and could be vulnerable to a takeover attempt. The Irvine-based food and drugstore giant declined to comment on the market rumors. American Stores stock closed Tuesday on the New York Stock Exchange at $57.375 per share, up $2.125, on volume of 220,400 shares. Average daily volume for the stock is about 84,700 shares.

American Stores Inc. must sweeten its bid for Lucky Stores Inc. by May 17 or give up its current bid for the Dublin-based supermarket chain, according to an agreement granting American Stores access to certain non-public information regarding Lucky's operations. Lucky, which has resisted being taken over by the owner of the rival Alpha Beta supermarket chain, said it agreed to share the confidential information while ensuring a number of protections for its shareholders.

The owner of Alpha Beta and Sav-on Osco stores--which has grown to a $14-billion drug and food giant in less than two decades--has achieved its growth record primarily by acquiring established, usually successful, companies. On Monday, American Stores Inc., with headquarters in Salt Lake City, proposed to add another name to its properties, bidding $1.74 billion for Lucky Stores Inc. of Dublin, Calif. "American Stores . . .

FACTS AND FIGURES Address: 19100 and 19200 Von Karman Ave., Irvine Developer: French & McKenna Co. Architect: WZMH Group Inc., Los Angeles Primary Contractor: French & McKenna Broker: Coldwell Banker, Newport Beach Financing: Citicorp Real Estate Inc. Number of floors: 10 Square feet: 410,982 Use: Office and retail Cost (land and building): $65 million Date completed: September,1986 Percentage of building leased: 80% Parking capacity: 1,189 Rental cost per square foot: $2.

The stock price of Lucky Stores Inc. rose Wednesday after the sixth-largest U.S. grocery chain operator announced that it has considered a leveraged buyout to thwart a hostile $1.74-billion takeover bid by American Stores Inc. American Stores Inc. has bid $45 a share for Lucky, whose shares rose 50 cents to close at $53.75 on the New York Stock Exchange. American Stores' stock price fell 87.5 cents to $58.125. American Stores is the third-largest U.S.