STOCKHOLDERS WON'T PURSUE CONTINENTAL &lt;CUO> BID
  Continental Associates, a group of four
  shareholders who hold about 5.02 pct of of Continental
  Materials Corp stock, said it will not pursue a tender offer
  for all of its shares.
      The shareholders said they were told that Continental
  Materials directors had no interest in selling the company.
      Late yesterday, Continental Materials board said it decided
  not to give further consideration to a "business combination"
  proposed by the group of St. Louis businessmen.
  

