SOSNOFF ENDS PRATT <PRAT>/SOUTHMARK <SM> DEAL
Investor Martin T. Sosnoff said
Southmark Corp and affiliate Pratt Hotels Corp have ended talks
with his MTS Acquisition Corp on a possible joint venture for
the acquisition of Caesars World Inc.
    Sosnoff said the talks had not been actively pursued since
they were announced March 20, but it had been agreed that
unless the discussions were formally terminated, Pratt and
Southmark would not initiate a competing tender offer for
Caesars World or take any other action that would hamper
Sosnoff's current offer to acquire all Caesars shares he does
not now own for 28 dlrs each.
    Sosnoff said his 28 dlr per share bid for Caesars, which is
scheduled to expire May 15, still stands, and he remains
receptive to negotiating a transaction to buy Caesars on
friendly terms.
    Pratt recently made an apparently unsuccessful bid to
acquire control of Resorts International Inc <RTB>, seeming to
lose out to Donald Trump.
 Reuter
