Di Giorgio Rejects Bid: Di Giorgio Corp.,...

Di Giorgio Rejects Bid: Di Giorgio Corp., a food distribution and building materials company, said it had rejected a $162-million, or $32-a-share, takeover bid by New Jersey investor Arthur M. Goldberg’s DIG Acquisition Corp. Di Giorgio has hired Shearson Lehman Hutton Inc. to explore the sale of part or all of the company, the firm said. Goldberg, who owns 14.1% of Di Giorgio’s stock, has said he would sell all of its businesses except its White Rose food distribution unit if his bid is successful. White Rose, Di Giorgio’s largest business, supplies food to New York area supermarkets and produces canned meats. In 1988, White Rose and Carando, a processor of Italian meats, produced about 80% of the firm’s $1.05 billion in revenue.