Kennington received $9.5-million buyout offer.

C & T Acquisition Corp. has made an $8.50-per-common-share offer for Kennington Ltd., a Los Angeles-based apparel maker. The move is part of a planned management buyout by Kennington Chairman Stanley Tendler and President Leon Condon, according to Kennington attorney Jerome Janger. The pair already hold 79.8% of the Kennington stock, he said. The company, which also is involved in real estate management and the modification and distribution of aircraft ball bearings, posted a net loss of $4.99 million in 1985.