Deals: Call It The Big Plunge

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Movie moguls basking by the pool at the Beverly Hills Hotel are on the set of a deal so big and racy that it could inspire a screenplay. The 74-year-old pink-and-green landmark has been sold at auction by the feuding family of Wall Street's most notorious insider trader, Ivan Boesky. The buyer: Tycoon Marvin Davis. The secretive Denver oilman, 61, submitted the winning bid of about $135 million to Boesky's wife Seema and her sister Muriel Slatkin. The sisters have not spoken in years, partly because Seema, who held 52% of the property, and Ivan refused Muriel a private table at the Polo Lounge, the hotel's celebrity watering hole. The star-struck Davis, who once owned 20th Century- Fox, says he will refurbish the 260-room hotel for an additional $40 million.