JONES AND VINING <JNSV.O> STARTS BID FOR SHARES
Jones and Vining Inc said it has
started a tender offer for all of its own shares at five dlrs
per share. 
    The company said it will hold a special meeting on July 10
for a vote on approval of a merger at the tender price.
    It said the price to be paid in the tender and merger could
be reduced by any fees and expenses the court may award to
counsel for the plaintiffs in the class action suit brought
against it in Delaware Chancery Court by Ronda Inc. The
plaintfiffs' counsel are seeking fees of up to 10 cts per
share, Jones and Vining said.
    The company said the court has scheduled a hearing on the
proposed settlement of the suit for July Eight.
    The company said the start of the tender offer and the
calling of the special meeting are conditions of the
settlement, and completion of the tender and merger are
conditioned on final approval of the settlement.
 Reuter
