But the company has said that at least 95 percent must be tendered.

They said yesterday that 85 percent of the shares had been tendered.

But Hallmark had set a requirement that at least 90 percent of each issue must be tendered.

So far, about 51 percent of Chateau's shares have been tendered, the company said.

Up to 86.5 percent of Church's outstanding stock, or about 30.1 million shares, will be tendered.

Under the old offer, only about 10 percent of the bonds had been tendered.

Barely 2 percent of the shares have been tendered to Goldman.

He said the offer was valid only if 50.1 percent of the company's common shares were tendered.

In each case the bankers will be paid after 50 percent of the shares are tendered.

The offer was extended once before, a week ago, when only 41 percent of the bonds were tendered.