Di Giorgio Corp

Di Giorgio Corp., an old-line San Francisco firm involved in food processing, building products and real estate, said Monday that it is the target of a $238-million takeover offer from an investment group affiliated with New York money manager Mario Gabelli. Analysts were not impressed with the $28-a-share bid and expect better offers to surface. "I think it understates what the company is worth," said analyst Kevin B.

Bergen Brunswig Corp. said it agreed to acquire Los Angeles Drug Co., a unit of San Francisco-based Di Giorgio Corp., for about $40 million in cash. Los Angeles Drug, which had 1985 sales of about $160 million, distributes drugs to pharmacies throughout the Southwest from four centers in California: Anaheim, Rosemead, Van Nuys and Hayward. In addition to its nationwide pharmaceutical distribution business, Orange-based Bergen Brunswig distributes medical and surgical supplies and videocassettes.