SAN RAMON, Calif. -- Safeway told shareholders at its annual meeting here it has "set aside plans to do a whole series of acquisitions," a declaration that did not stop reports from circulating last week that the chain might be interested in acquiring Longs Drug Stores.

Executives at Safeway, Pleasanton, Calif., and Longs, Walnut Creek, Calif., declined comment last week. Safeway reportedly made an offer to Longs two years ago but was rebuffed.

Longs operate

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