KWILLIAMS / reuters-21578 / test / 17513 

            

              
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

              
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.