Show CO TO ACQUIRE HUGE CANNING GANNIO fiRM Utah l Plants Jants Will Be Included In Merger Under Uncle V y NEW YORK TORE Feb 4 Iy 4 Ey The Associated Press Negotiations were approaching completion for forthe forthe the acquisition ot of o the California racking Packing company by Pie Po tum Cereal company which result In a combination of f food od corn com panics panle with total assets of or more inor than Ihan Banking Interests both spent the day In In an attempt to agree u upon on terms of o tl U e merger Re- Re Reports Reports Re ports were wore current that California Packing shares sharIs would be bo taken takeover over o by the company on D a basis equivalent to 17 t 1 share are the tho touched touched- o by to oe-to today ric o day on oi b s r re rise of ot more than eight points The deal ll ey Involve an exchange of 1 li shares of for each share sharo I ol California Pack Pack- Packing ing ST E COMPANY Completion of the merger will make the Cereal one of 0 the largest distributors of o food products in the country The com corn company palm pany recently has pursued a pOliCY of expansion through Its acquisition tion Uon Ion of the Jell O b business s and that of at the Iglehart Flour com corn company company pany New financing In connection with Ith the deal probably will be arranged by Blair BIair and com company pan who hive Ite been lieen bankers for th the California Packing company UT JI tT If The Note Note The Utah Packing cor- cor corporation cor corporation 1 Is a child of o the Call Cali California fornia Packing corporation The I Utah Packing corporation operates I several canneries In Ogden anti and other parts of Utah Therefore time the acquisition of ot the California I corporation by the Pos Pos- tum turn company will mean that one oneo of the for foremost most Industries of th the country will have o a strong Interest t tIn I In this states state's development development- |