ARDEN GROUP <ARDNA.O> PLANS ISSUER TENDER
Arden Group Inc said it filed a
registration statement with the Securities and Exchange
Commission covering two issuer tender offers.
    It said one offer its directed to its class A common stock
holders and another to holders of its 8-1/4 pct debentures due
March 1, 1989.
    The planned offer for common stock holders calls for the
company to exchange either 30 dlrs in cash, or 35 dlrs
principal amount of 13 pct subordinated debentures due
September 1, 1997, or one share of a new class B common stock,
for each class A share held, Arden Group said.
    It also said the cash payment is subject to proration.
    In addition, the company said it plans to offer to exchange
one dlr principal amount of 13 pct debentures due September 1,
1997 for each outstanding one dlr principal amount of 8-1/4 pct
debentures.

 Reuter
