afternoon when it is expected an announcement will be made that rival wholesalers Butterfield & Company Ltd. has bought Vallis.

A meeting of the entire Vallis staff, called by president Mr. Francis Vallis, was held at 4.30 p.m. yesterday.

Both Butterfield president Mr. Jim Butterfield and Vallis president Mr.

Francis Vallis had denied before yesterday's meeting that any deal between the two companies was taking place. They both said that no takeover talks had been held.