Resorts International rejected KSZ’s takeover bid.
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The Atlantic City, N.J.-based casino and real estate company termed the $200-million offer by KSZ Co. as “grossly inadequate and not in the best interests of the company.” KSZ is backed by Denver oilman Marvin Davis. Meanwhile, the estate of the late Resorts Chairman James M. Crosby and family members announced that they will abide by an agreement to sell a 72% controlling interest in Resorts to New York developer Donald Trump .
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