SETON &lt;SEL> GETS BUYOUT OFFER FROM CHAIRMAN

  Seton Co said its board has
  received a proposal from chairman and chief executive officer
  Philip D. Kaltenbacher to acquire Seton for 15.75 dlrs per
  share in cash.
      Seton said the acquisition bid is subject to Kaltenbacher
  arranging the necessary financing.  It said he intends to ask
  other members of senior management to participate.
      The company said Kaltenbacher owns 30 pct of Seton stock
  and other management members another 7.5 pct.
      Seton said it has formed an independent board committee to
  consider the offer and has deferred the annual meeting it had
  scheduled for March 31.
  

