Spotlight: ITT Adds Hotels Amid Hilton Takeover Fight

ITT Corp. moved forward with its effort to battle a hostile $6.5-billion bid from Beverly Hills-based Hilton Hotels Corp., announcing plans to add 28 hotels to its core Sheraton business. The move came one day after Hilton, which is seeking to acquire ITT in a proxy fight, filed a motion in a Nevada federal court to force ITT to hold its annual shareholders meeting in May. An ITT spokesman said the hotel additions were not directly linked to the Hilton offer because talks began last year.