ICAHN DROPS BID FOR TWA <TWA>
Trans World Airlines Inc said chairman
Carl C. Icahn has withdrawn his proposal to acquire the TWA
shares he does not already own due to the deterioration in
market conditions.
    Under the proposal Icahn would have paid for each TWA share
20 dlrs in cash and 25 dlrs face amount of 12 pct subordinated
debentures due 2007.
    TWA said Icahn reserves the right to make a subsequent
proposal at some future date on the same terms or different
terms.
 Reuter
