SMITH'S SETS CALIFORNIA EXIT; EYES SMITTY'S, STOCK BUYBACK

SALT LAKE CITY -- Smith's Food & Drug Centers here delivered a triple whammy last week:It concluded deals for the sale or lease of 17 of its 34 southern California supermarkets to a variety of local operators and said it will close the remaining units.It entered into negotiations with Yucaipa Cos., Los Angeles, for a possible stock merger that would allow Smith's to acquire Yucaipa's 28 Smitty's Super

SALT LAKE CITY -- Smith's Food & Drug Centers here delivered a triple whammy last week:

It concluded deals for the sale or lease of 17 of its 34 southern California supermarkets to a variety of local operators and said it will close the remaining units.

It entered into negotiations with Yucaipa Cos., Los Angeles, for a possible stock merger that would allow Smith's to acquire Yucaipa's 28 Smitty's Super Valu stores in Arizona in exchange for giving Yucaipa a stock pos

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