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Microcap & Penny Stocks : CML group - large investors are in -- Ignore unavailable to you. Want to Upgrade?

To: D Ruccione who wrote (99)	12/2/1998 11:35:00 AM
From: jeffrey rainey	Respond to of 109

ACTON, Mass., Nov 30 (Reuters) - CML Group Inc., an athletic equipment seller, said on Monday it entered into a preliminary purchase and sale agreement to sell its bankrupt NordicTrack unit to ICON Health & Fitness. "There has been a lot of interest (in NordicTrack)," said William Weinstein of Ozer Group LLC of Needham, Mass., the firm handling the NordicTrack sale. "We think ICON's initial bid of $6.5 million is just the opening shot." The deadline for counteroffers is December 8. NordicTrack filed for Chapter 11 bankruptcy protection on November 5. "NordicTrack is very much interested in receiving additional bids," said Daniel Cohn of Cohn & Kelakos LLP, the law firm representing the company. CML shares fell 1/32 to its 52-week low of 3/32 in New York Stock Exchange trade Monday. The stock's 52-week high was 4-1/8. CML sells consumer athletic equipment under the Smith & Hawken, NordicTrack and Nordic Advantage brands. ((--New York Newsdesk (212) 859-1700)) REUTERS