	first financial ffmc bids for comdata cdn first financial management corp said it has offered to uire comdata network inc for dlrs per share in cash and stock or a total of about mln dlrs the company said for each comdata share it would exchange half a first data share and enough cash to bring the total value up to dlrs per share provided that the market price of first financial stock were not less than dlrs per share it said the cash payment would be based on the average market price of first financial during a period shortly before closing first financial said it would not pursue the offer if comdata s board rejected it comdata has already agreed to be uired by a partnership for either dlrs a share in cash or at least dlrs in cash and uniuts of securities the partnership that made the first offer for comdata was welsh carson anderson and stowe comdata had previously entered into an agreement which collapsed for a repurchase of six mln shares at dlrs each and for the sale of one mln shares by a director to mason best co mason best already owns comdata shares a group led by rosewood financial inc has also disclosed ownership of pct of comdata s mln shares outstanding and said it might seek to increase its interest to over pct the company said comdata shareholder approval would also be required for its proposal reuter 
