Limited Inc. said yesterday that it had completed its tender offer to buy back up to 85 million shares for a total of $1.61 billion.

The company had hoped to win approval of a defensive recapitalization plan before Mr. Sosnoff had time to complete his tender offer.

Allied said it would complete its tender offer anyway.

Two 1983 business school graduates successfully completed their first big tender offer yesterday.

McCaw Cellular completed its tender offer for 46.3 percent of Lin Broadcasting at $154.11 a share.

The Federal Reserve Board had given the Bank of New York until Sept. 7 to complete its tender offer for Irving's shares.

"We didn't believe that Oracle was serious about completing its tender offer," he said, and that even at $26, "no directors felt it was fair."

Merrill Lynch has completed its tender offer for 85 percent of the common shares and intends to complete the merger later in the year.

Greenmarine had the high bid, but it could not complete its tender offer because of various defenses, among them a poison pill, maintained by Outboard.

The agreement also states that if Viacom cannot complete its tender offer by Dec. 23, it is still required to buy Paramount.