AMC &lt;AMO> TAKES NO ACTION ON CHRYSLER &lt;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.
  

