INTERCONNECT OFFERS TO BUY GATES LEARJET <GLJ>
<Interconnect Capital Corp>
said it sent a letter to the board of Gates Learjet Corp,
offering to buy the company for 7.07 dlrs a share.
    Gates Corp, which owns 64.8 pct of Gates Learjet, agreed
earlier this week to sell its shares to a partnership formed by
privately-held <Cobey Corp> and a unit of Bear Stearns Cos Inc
<BSC> for 6.50 dlrs a share or 51 mln dlrs. The proposal is
subject to approval by Gates Learjet's board.
    A spokesman for privately-held Interconnect said it made
the new proposal to Gates Learjet's board, but would not say if
it had held talks with the parent company's board.
   
 Reuter
