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March 25, 1987

DIXONS DECLINES COLLUSION WITH CITICORP IN BREAK UP OF CYCLOPS

By CBR Staff Writer

Dixons Group Plc not too surprisingly gave CitiCorp a very dusty answer to its proposal that the two should collude in breaking up Pittsburgh, Pennsylvania electrical goods retailer Cyclops Corp (CI No 648): it’s tender offer closed last night with only 20% of the total outstanding tendered, but it intends to buy those and come back for more with a sweetened offer.

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