DIXONS HAS 56 PCT OF CYCLOPS CORP Dixons Group Plc <DXNS.L> said its tender offer for all of the common shares in <Cyclops Corp> of the U.S. Expired at midnight yesterday and that it had accepted approximately 2.3 mln shares in the company at 90.25 dlrs each. This represents just over 54 pct of the outstanding shares on a fully diluted basis. But including shares already owned, Dixons now holds a total of 56 pct of the fully diluted outstanding shares. The company said it is now entitled to subscribe for all the authorised but unissued and unreserved shares of common stock of Cyclops, which total some 5.4 mln shares, at 90.25 dlrs each. Dixons said it has waived its condition that 80 pct of the fully diluted outstanding shares be validly tendered and not withdrawn. Dixons launched the agreed 384 mln dlr offer on February 17 this year in the wake of its unsuccessful battle to take over the U.K. Retail store chain Woolworth Holdings Plc <WLUK.L>. Dixons shares were last quoted at 390p, up on last night's close of 380p. On Friday, <CYACQ Corp>, an investor group formed by Audio/Video Affiliates Inc <AVA> and Citicorp <CCI>, said it would increase the price it was offering for all Cyclops shares to 92.50 dlrs from 80.00 dlrs each if Cyclops would provide it with confidential information given to Dixons and if it were satisfied that any rights Dixon might have to recover fees or expenses from Dixons or to buy Cyclops stock would be rescinded or proved invalid. Audio/Video's offer is scheduled to expire March 20.