ENTERTAINMENT MAKES BUYOUT OFFER TO CRAZY EDDIE
Entertainment Marketing Inc <EM>
said it has made an offer to the board of Crazy Eddie Inc to
acquire all outstanding shares of Crazy Eddie Inc for eight
dlrs a share in cash.
    Entertainment said the offer would be conducted through a
negotiated merger with a new corporation to be formed by
Entertainment Marketing.
    Entertaiment said it has requested an early meeting with
Crazy Eddie Inc's board and that it has committed 50 mln dlrs
toward the purchase of the shares including those already
purchased.
   
    The company also said it has retained Dean Witter Reynolds
Inc to assist in raising the balance of the financing.
    According to Entertainment, its company and its chairman
own about 4.3 pct of Crazy Eddie's currently outstanding
shares.
    Additionally, the company said it is willing to negotiate
all aspects of its offer and is willing to consider a
transaction which would be tax free to Crazy Eddie's
shareholders.
 Reuter
