Also. . .

* Cendant Corp., whose franchises include Ramada hotels and Avis car rentals, said it plans to spin off most of its individual membership units to shareholders. The company said the spinoff will include its individual membership and loyalty businesses and be completed by mid-2001. Cendant said the move is being made for accounting purposes and will allow the unit to increase its membership more quickly. The spinoff will be a tax-free distribution.

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* Uno Restaurant Corp., the operator of Pizzeria Uno’s, said a management group led by Chairman Aaron Spencer has made an $8.75-a-share cash tender offer for the company. The Uno board has appointed a special committee to review the proposal.

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