CONRAC <CAX> REJECTS MARK IV <IV> OFFER Conrac Corp said its board has rejected MArk IV Industries Inc's tender offer for all Conract shares at 25 dlrs each, and no Conract director of officer plans to tender any shares. The company said financial advisor <Goldman, Sachs and Co> determined the price to be inadequate. It said its board has instructed management to explore and develop with financial and legal advisors alternative courses of action to maximize shareholder values.