Bisco Industries Offers Revised Bid to Rival

Bisco Industries Inc., a distributor of nuts and bolts and electronic components, said Friday it has made a revised bid of $6.50 a share for competitor RB&W; Corp. in Mentor, Ohio.

The offer, which includes $4.75 a share in cash and $1.75 a share in preferred stock, is lower than a $7-a-share Bisco bid in May. The latest offer adds up to $34.5 million plus the assumption of $32.5 million in debt, or $67 million. Bisco spokesman Jay Conzen said the reduced offer is $2.6 million less than the previous one and it reflects changing conditions in the market. RB&W; rejected the earlier offer, calling the financing uncertain.