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MACANDREWS & FORBES EXTENDS TENDER OFFER FOR MARVEL SHARES

 NEW YORK, April 23 /PRNewswire/ -- MacAndrews & Forbes Holdings Inc. announced today that it has extended its $25 cash tender offer for up to 11 million shares of common stock of Marvel Entertainment Group, Inc. (NYSE: MRV) until 5 p.m., New York City time, on Monday, April 26, 1993, unless further extended. The offer, which is being made by New Marvel Holdings Inc., an indirect wholly owned subsidiary of MacAndrews & Forbes, commenced on March 26, 1993, and was originally scheduled to expire at midnight last night.
 The offer remains conditioned upon, among other things, a minimum of 10 million shares being validly tendered and not withdrawn prior to the expiration of the offer.
 MacAndrews & Forbes also stated that a total of approximately 3.6 million Marvel shares (including approximately 600,000 shares subject to guarantees of delivery) had been tendered as of 8 p.m. last night.
 -0- 4/23/93
 /CONTACT: James T. Conroy of MacAndrews & Forbes Holdings Inc., 212-572-5980/
 (MRV)


CO: MacAndrews & Forbes Holdings Inc.; Marvel Entertainment Group Inc. ST: New York IN: HOU SU: TNM

PS-OS -- NY016 -- 9913 04/23/93 09:14 EDT
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Publication:PR Newswire
Date:Apr 23, 1993
Words:187
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