1
 Manville Corp. said 
5002
attribution

2
it offered to buy $500 million of its convertible preferred stock from the Manville Personal Injury Settlement Trust in a move 
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span

3
that would improve the trust's liquidity 
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List

4
and reduce the potential number of Manville shares outstanding.
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List

5
 Manville said 
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attribution

6
it made the offer within the past several weeks as part of an effort 
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span

7
to improve shareholder value.
6
elaboration-object-attribute-e

8
 It said 
9
attribution

9
it would purchase the stock at market price.
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10
 Manville and a spokeswoman for the trust said 
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attribution

11
that the two are discussing the proposal 
12
antithesis

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but a decision hasn't been made.
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span

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 We are considering that offer along with all other alternatives, 
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14
the trust spokeswoman said.
13
attribution

15
 We need to look at how to maximize our cash flow 
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span

16
to pay our beneficiaries.
15
purpose

17
 The trust, 
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span

18
created as part of Manville's bankruptcy-law reorganization 
5017
span

19
to compensate victims of asbestos-related diseases, 
18
purpose

20
owns 7.2 million of the Series A convertible preferred shares, 
5019
span

21
which are each convertible into 10 Manville common shares.
20
elaboration-additional-e

22
 The trust also owns half of Manville's 48 million common shares outstanding.
5020
List

23
 Based on Manville's closing price yesterday of $9.25 a share,
24
circumstance

24
 Manville's offer would purchase about 5.4 million of its preferred shares, or about 75% of the trust's preferred stock holding.
5024
span

25
 In addition to the stock and 20% of Manville's profits 
5026
span

26
beginning in 1992,
25
elaboration-object-attribute-e

27
 the trust is supposed to receive $2.5 billion over its 27-year life.
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Same-Unit

28
 But it initially was funded with about $765 million 
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Evaluation

29
and may soon face a cash crunch.
5033
span

30
 As of June 30, it had settled about 15,000 of 81,000 claims filed 
5053
Contrast

31
and its unpaid claims totaled $136 million, a large portion of its $268 million in cash and marketable securities.
5053
Contrast

32
 Since most of its assets are tied to Manville, a forest and building products concern,
33
circumstance

33
 the trust might also want to diversify its holdings.
5036
span

34
 As part of its offer, Manville said 
5035
attribution

35
it requested changes in some covenants between it and the trust 
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36
to allow Manville to reflect a more typical corporate ownership and financial structure.
35
purpose

37
 A Manville spokesman wouldn't elaborate on the proposed changes.
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Contrast

38
 But he said 
5044
attribution

39
they are to a large degree, housekeeping, 
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span

40
although some may generate some disagreement.
39
concession

41
 Manville said 
5050
attribution

42
the shares 
5046
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43
issued to the trust 
42
elaboration-object-attribute-e

44
were intended to be sold, 
5047
Same-Unit

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as needed,
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elaboration-additional

46
 and that Manville has the right of first refusal 
5049
span

47
to buy those shares.
46
elaboration-object-attribute-e

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explanation-argumentative

