CAESARS WORLD <CAW> BID VALUED AT 907 MLN DLRS
MTS Acquisition Corp said it will need
about 907 mln dlrs to acquire the 31,781,461 Caesars World Inc
shares not owned by its owner, Martin T. Sosnoff.
    The estimate came in MTS Acquisition's proxy statement to
Caesars World shareholders describing its offer of 28 dlrs a
share for their stock which was announced this morning.
    In that announcement, MTS Acquisition said its bank and
investor bankers felt they could provide financing totaling 975
mln dlrs for the offer.
    Sosnoff is Caesars World's largest shareholders with
4,217,675 of the company's shares. That is about 11.7 pct of
the outstanding stock on a fully diluted basis, the proxy said.
    Besides being the sole owner of MTS Acquisition, Sosnoff
owns 61 pct of Atalanta/Sosnoff Capital Corp's <ATL> stock and
is chairman of that investment management and brokerage firm.
 Reuter
