GUARDIAN-MORTON SHULMAN AGREES TO TAKEOVER BID <Guardian-Morton Shulman Precious Metals Inc> said Morton Shulman and Guardman Investment Management Services Inc agreed in principle for Andrew Sarlos to make a takeover bid for all special shares and series II warrants of Guardian-Morton, subject to regulatory approval and completion of definitive documentation. Guardman Investment, current manager and owner of all common shares of Guardian-Morton, also agreed to sell the common and its management agreement to a company controlled by Sarlos if the takeover bid is successful, Guardian-Morton said. Price to be offered for the Guardian-Morton special shares under the takeover bid will be 90 pct of the net asset value of the special shares at the time of the bid, and two dlrs for each series II warrant, the company said. Guardian-Morton said the takeover bid will be conditional on Sarlos acquiring at least 90 pct of the special shares and 90 pct of the series II warrants, when combined the number of special shares and warrants owned by the offeror at the time of the bid. Investment companies managed by Sarlos currently own slightly less than 10 pct of Guardian-Morton's special shares.