CONISTON GROUP TO CONTINUE BID FOR ALLEGIS <AEG>
An investor group led by Coniston
Partners said it plans to continue its effort to gain control
of Allegis Corp despite the defensive maneuvers Allegis
announced last week.
    Allegis said then that it would borrow three billion dlrs
and pay shareholders a dividend of 60 dlrs per share, lowering
the company's net worth. The Coniston group, which owns 13 pct
of Allegis stock, has said that it would seek shareholder
consents to remove 13 of the 16 Allegis directors. The group
had said it would consider breaking up Allegis into its
airline, hotel and vehicle rental components if it succeeded.
    The Coniston group said it expects to make a further
announcement today on its plans for Allegis.
    Wall Street analysts and traders had not expected Coniston
to abandon its pursuit of Allegis as a result of the Allegis
defensive measures.
    Allegis officials were unavailable for comment.
 Reuter
