DISNEY FAMILY MAKES BID FOR HOLLY SUGAR &lt;HLY>
  The Roy Disney family disclosed in a
  filing with the Securities and Exchange Commission that it made
  a bid to acquire Holly Sugar Corp for a package of cash and
  securities.
      Shamrock Holdings of California Inc, a Disney family
  company, said it submitted the bid on April 8 to Salomon
  Brothers Inc, Holly Sugar's investment banker.
      The offer was for 45 dlrs in cash, securities with a face
  value of 70 dlrs, and a "contingent payment certificate" that
  would pay out as much as 70 dlrs over a 20-year period for each
  share of Holly Sugar outstanding.
      The Disney family already holds 101,300 Holly Sugar shares
  or 9.0 pct of the total outstanding following purchases of
  12,500 shares March 13-April 17, Shamrock told the SEC.
      Shamrock said it had asked for certain information about
  Holly Sugar's financial condition but had been turned down. It
  said its offer was therefore subject to further discussions.
      "Once we have had an opportunity to complete our due
  diligence evaluation of the company, including inspections of
  certain facilities and meetings with key management personnel,
  we would be prepared to negotiate all aspects of our proposal,
  including price," it said in its April 8 letter.
  REUTER^M
  

