Judge Denies Hilton Request in ITT Fight

A Nevada federal court denied a request by Hilton Hotels Corp. to force ITT Corp. to hold its annual meeting in May. The Beverly Hills-based hotel and gambling company, which earlier this year launched a hostile, $55-a-share bid for ITT, planned to ask shareholders during the annual meeting to elect its slate of nominees to the ITT board of directors and complete the acquisition. New York-based ITT, which owns the Sheraton hotel chain and Caesars Palace in Las Vegas, has not set a date for its shareholders meeting. ITT said it wants to review its options before holding the meeting, which the company says can be held as late as mid-November under Nevada law. Hilton said it remained committed to completing the acquisition. The ruling came after markets closed. Hilton shares lost 37.5 cents to close at $25.375, and ITT lost 37.5 cents to close at $58.75. Both trade on the New York Stock Exchange.