JONES AND VINING <JNSV> GETS VULCAN <VUL> BID
Jones and Vining Inc said
Vulcan Corp, one of its main competitors in the production of
shoe lasts, has offered to acquire Jones and Vining for five
dlrs a share.
    Jones and Vining said a management effort to take the
company private will go ahead at 4.50 dlrs per share. The form
of the buyout has not yet been determined and the buyout is
subject to a nunber of conditions, it said.
    Jones and Vining said its board believes that a transaction
with Vulcan would be difficult to complete, but it has asked
Vulcan for further information to explore the bid.
    On January 23, Jones and Vining said its board had
recommended that shareholders aprove a management buyout at
4.50 dlrs a share.
    On February Six, Vulcan initially offered to acquire Jones
and Vining for five dlrs a share, but Jones and Vining
dismissed the offer as "frivolous" and "without substance" and
said the bid failed to comply with provisions of the Securities
Act of 1934.
 Reuter
