A group of investors, led by Walsh,...

A group of investors, led by Walsh, Greenwood & Co., of Greenwich, Conn., withdrew a $900-million bid for Stride Rite Corp., but refused to rule out another bid for the Boston-based firm . . . Beverly Hills-based City National Corp., the holding company for City National Bank, said it has agreed to merge with Warner Center Bank of Woodland Hills. Under the agreement, Warner would receive two CNC shares for every three WCB shares in a tax-free exchange . . . Texas investor Harold L. Simmons said he will launch a $1.2-billion bid for Georgia Gulf Corp. through his Houston-based NL Industries, which now holds a 10% stake.

Saab Automobile AB, a new joint venture with General Motors Corp., expects to turn the corner into profitability next year and produce a new upscale passenger car within five years.