The SEC said Allied Stores failed to disclose talks.

The Securities and Exchange Commission accused Allied of failing to notify shareholders of negotiations last fall to fend off a hostile takeover attempt. The SEC, in an administrative proceeding, said the New York-based company failed to comply with disclosure requirements. Allied held a series of negotiating sessions last fall with Edward J. DeBartolo Corp. of Ohio, seeking to sell some of its shopping centers or to be acquired in a friendly merger, the SEC said. The talks were a result of a hostile takeover attempt by Campeau Corp., the SEC said.

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