Dean Witter won’t reaffirm its Levitz opinion.

Levitz Furniture said it has been informed by Dean Witter Reynolds that, in light of market conditions, it can’t reaffirm that $39 per share--to be paid to Levitz shareholders in a leveraged buy-out of the Miami-based company--is a fair price from a financial point of view. Last November, Dean Witter orally rendered a preliminary opinion that $39 was a fair price. Certain members of management, Citicorp Capital Investors and Drexel Burnham Lambert are attempting to acquire the company through a leveraged buy-out. The company said the buying group indicated that it plans to proceed with the offer at $39 per share.