SECURITIES
From Times Staff and Wire Reports
Smith, Barney Confirms Talks About Kidder: Smith Barney, Harris Upham & Co. confirmed that it has talked with General Electric Co. about acquiring GE’s brokerage subsidiary, Kidder Peabody Co., but said the talks have broken down, analysts said. Shedding Kidder would be in line with GE Chairman John Welch’s stated aim to be the top or second-ranked company in all the industries it is in, analysts said. In 1991, Kidder ranked fifth in an IDD Information Services survey of securities underwriters.
