(CORRECTED)-CRAZY EDDIE <CRZY.O> SETS RIGHTS
Crazy Eddie Inc said its board has
adopted a defensive shareholder rights plan and said it has
reacived inquiries on a friendly merger.
    It said under the plan, shareholders of record as of April
21 will receive a right to purchase under certain circumstances
at a price of 42 dlrs 0.01 preferred share for each common
share held.  The rights expire April 9, 1997.
    The company said the rights would be exercisable 20
business days after a party were to acquire 20 pct or more of
Crazy Eddie common stock or announce a bid for 30 pct or more.
    Adds dropped year of rights expiration.
 Reuter
