AMC <AMO> TAKES NO ACTION ON CHRYSLER <C> BID
American Motors Corp said its directors
reviewed a Chrysler Corp merger proposal but took no action on
it.
    The company said its directors met in New York today at a
regularly scheduled meeting. The board's review is continuing
with the company's independent legal and financial advisers,
American Motors said in a statement issued from New York.
    American Motors' board voted to postpone its annual
shareholders meeting scheduled for April 29 in Southfield,
Michigan.
    The next regularly scheduled meeting of American Motors
board will be April 29, although it is expected that directors
will meet again prior to that date, according to the statement.
    Early last week, Chrysler said it agreed to buy the 46.1
pct interest owned by Regie Nationale des Usines Renault in
American Motors and acquire the balance of American Motors in a
transaction valued at 1.11 billion dlrs.
    Later that week, AMC said it had retained financial and
legal advisers and expected to meet periodiocally over the next
several weeks to consider the proposal.
 Reuter
