Advertisement

CALIFORNIA | REAL ESTATE | THE STATE

Hilton Seeks Affidavits From ITT Holders

March 21, 1997|(Bloomberg News)

Hilton Hotels Corp., as part of its $10.5-billion hostile bid for ITT Corp., is asking ITT shareholders to sign a sworn statement supporting Hilton's efforts to have the ITT annual meeting held in May. In the three-page affidavit, a copy of which was obtained by Bloomberg News, Beverly Hills-based Hilton asks shareholders to disagree with ITT's position that holding the meeting in May would "handcuff" its board and not give it enough time to determine the value of Hilton's bid. Hilton wants ITT to hold its annual meeting in May, which is typically when it has been scheduled in the past. Hilton has nominated a slate of directors to replace ITT's board. ITT has said that under Nevada law it can hold the annual meeting as late as November. A Hilton spokesman declined to comment. New York-based ITT couldn't be reached for comment.

Advertisement
Los Angeles Times Articles
|
|
|