CYACQ CUTS CONDITIONS ON CYCLOPS <CYL> BID Cyacq Corp, an investor group bidding for Cyclops Corp, said it amended its outstanding 92.50 dlrs a share tender offer for Cyclops to eliminate two conditions and modify a third one. The group, which includes Audio/Video Affiliates Inc and a unit of Citicorp <CCI>, said it also obtained additional financing commitments, including an increased commitment from Citicorp Capital Investors Ltd. The conditions that were eliminated are Cyacq's request for non-public information about Cyclops that was previously provided to Dixons Group PLC and Cyacq's being satisified that the information provides an adequate basis for Cyclop's published financial projections. Cyclops has agreed to be acquired Dixons Group, which has a 90.25 dlrs a share tender offer for Cyclops outstanding. Dixons said earlier it would allow the offer to expire tonight. The condition that was modified, which required Cyacq to be satisfied that break up fees or other obligations to Dixons were rescinded or ineffective, now says Cyclops shall not have paid any such fees or expenses to Dixons prior to the consummation of Cyacq's offer. Cyacq's amended offer expires midnight New York time on April three, 1987, unless extended. Manufacturers Hanover Trust Co and CIT Group/Business Credit Inc increased its tender offer commitment to 197 mln dlrs from 166 mln dlrs and its merger commitment to 275 mln dlrs from 250 mln dlrs. Additionally, the Citicorp unit and Audio/Video have increased their commitments to Cyacq to 185 mln dlrs. Of the new total, 150 mln dlrs has been committed by Citicorp. Cyacq said it estimates that it needs 407.5 mln dlrs to buy all Cyclops shares that may be tendered and pay related fees and expenses. It said it is seeking to arrange the balance of about 25.5 mln dlrs necessary to complete the offer. All previously announced conditions regarding the lending group led by Manufacturers Hanover remain in effect, except that the loans are subject to the concurrent receipt by Cyacq of equity contributions and other financing of not less than 210.5 mln dlrs for the tender offer facility and 213.5 mln dlrs for the merger facility. Cyacq also said the Citicorp unit had received no indications of interest in an alternative offer it had made from Dixons, Cyclops or Alleghany Corp <Y>, which has agreed to acquire Cyclops' industrial group from Dixons. Under the alternative offer, the Citicorp unit, with Cyacq's approval, proposed to acquire the industrial group from Dixons.