DEALS: Whoopee with WEO

Charles G. Bluhdorn, the volatile financial wizard who put together the $1.67 billion-a-year Gulf & Western conglomerate, has a way of buying into companies that later turn out to be holding hidden assets. Evidently, Chairman Bluhdorn thinks that the Great Atlantic & Pacific Tea Co., the money-losing supermarket chain, has a few cookies on its shelves that no one else knows about. Last week G. & W. offered a minimum price to buy 3,750,000 shares of A. & P. stock—enough, when combined with the 1,046,000 that G.&W. already owns, to give it...

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