COURT ENJOINS TENDER FOR BANCROFT &lt;BTV>

  Bancroft Convertible Fund said the
  U.S. District Court for the District of New Jersey issued a
  preliminary injunction, enjoining &lt;Zico Investment Holding
  Inc's> tender offer for Bancroft.
      It said the Court order prevents Zico from buying any
  shares tendered to them during the offer, which began on Feb.
  17, 1987.
      In the tender offer blocked by the Court, Zico offered to
  buy 500,000 shares, or about 22 pct of Bancroft's outstanding
  stock, for 30 dlrs a share.
      Previously, Zico had bought 965,000 Bancroft shares for 31
  dlrs a share, giving it about 28 pct of the company. If the
  recent offer had gone through, the Zico would have owned
  slightly more than 50 pct of Bancroft's outstanding shares.
  

