SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant [x]
Filed by a Party other than the Registrant [ ]
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[ ] Preliminary Proxy Statement
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Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[x] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Section 240.14a-11(c) or
Section 240.14a-12
ITT CORPORATION
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(Name of Registrant as Specified in its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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1)Title of each class of securities to which transaction applies:
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computed pursuant to Exchange Act Rule 0-11 (set forth the
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[Letterhead of ITT Corporation]
DATE: October 28, 1997
CONTACT: Jim Gallagher CONTACT: George Sard/David Reno
TELEPHONE: 212-258-1261 Sard Verbinnen & Co.
212-687-8080
FOR IMMEDIATE RELEASE
ITT MAILS SUPPLEMENTAL PROXY TO SHAREHOLDERS FOR
NOVEMBER 12 MEETING;
EXPECTS STARWOOD TRANSACTION TO BE COMPLETED BY EARLY FEBRUARY
NEW YORK, NY, October 28, 1997 -- ITT Corporation (NYSE:ITT)
today announced that it has mailed a supplement to its proxy
statement to ITT shareholders for the 1997 Annual Meeting set for
November 12. At the meeting, ITT shareholders are expected to
choose between the ITT directors and the nominees proposed by
Hilton Hotels Corporation.
If reelected, the ITT directors will, subject to their
fiduciary duty, proceed to implement ITT's acquisition by
Starwood Lodging (NYSE:HOT) for $82 per ITT share, $15 in cash
and $67 in newly issued Starwood shares. ITT and Starwood
shareholders are expected to vote on this transaction in January
1998.
ITT and Starwood expect to file the necessary documents with
the Securities and Exchange Commission and for gaming and other
regulatory approvals for the transaction during the first week of
November. ITT and Starwood also expect all necessary gaming and
other regulatory approvals will be obtained, and the Starwood
Merger will be consummated, in late January or early February
1998.
- ITT -
