DIXONS PLANS TO LET CYCLOPS <CYL> OFFER EXPIRE
Dixons Group PLC said it does not plan
to extend the expiration date of its tender offer for any and
all common shares of Cyclops Corp beyond tonight.
    Dixons said it would accept shares validly tendered and not
withdrawn by midnight tonight.
    Dixons, which is offering 90.25 dlrs a share for Cyclops,
said last week it had about 54 pct of Cyclops common shares.
Its offer originally was scheduled to expire March 17 but was
extended for one week.
    Yesterday Citicorp <CCI>, with Audio/Video Affiliates Inc
<AVA> an owner of CYACQ, said it had offered to acquire from
Dixons after the merger of Cyclops into Dixons, Cyclops'
industrial businesses for 12.8 mln dlrs more than Alleghany
Corp <Y> is currently scheduled to pay for them.
    Citicorp said yesterday that its proposal would allow
Dixons to raise its tender price to 93.25 dlrs per share.
Citicorp said if Dixons accepted the proposal, CYACQ would
terminate its competing 92.50 dlr offer for Cyclops.
    Citicorp had suggested yesterday that Dixons extend its
tender until March 31 in connection with the price increase.
 Reuter
