JONES AND VINING <JNSV> GETS VULCAN <VUL> BID Jones and Vining Inc said Vulcan Corp, one of its main competitors in the production of shoe lasts, has offered to acquire Jones and Vining for five dlrs a share. Jones and Vining said a management effort to take the company private will go ahead at 4.50 dlrs per share. The form of the buyout has not yet been determined and the buyout is subject to a nunber of conditions, it said. Jones and Vining said its board believes that a transaction with Vulcan would be difficult to complete, but it has asked Vulcan for further information to explore the bid. On January 23, Jones and Vining said its board had recommended that shareholders aprove a management buyout at 4.50 dlrs a share. On February Six, Vulcan initially offered to acquire Jones and Vining for five dlrs a share, but Jones and Vining dismissed the offer as "frivolous" and "without substance" and said the bid failed to comply with provisions of the Securities Act of 1934.