<PLUM HOLDING INC> STARTS HOILLY SUGAR <HLY> BID Plum Holding Inc said it has started its previously-announced offer to purchase 664,400 common shares of Holly Sugar Corp at 95 dlrs each. In a newspaper advertisement, the firm said the offer, proration period and withdrawal rights expire November 17 unless extended. The offer, which has been approved by the Holly board and is to be followed by a merger in which remaining shares are to be exchanged for cumulative redeemable exchangeable preferred stock, is conditioned on receipt of at least 664,400 shares, which would give Plum a two thirds interest, and the receipt of financing.