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BRIEFLY

December 08, 1987

Olympia & York Developments of Toronto said it "does not presently intend to propose" a $63-per-share-or-better cash tender offer for the stock of Santa Fe Southern Pacific. In a filing Nov. 3 with the Securities and Exchange Commission, O&Y said it might match or top a $63-per-share offer for SFSP made previously by Henley Group of La Jolla. O&Y owns 6.9% of the outstanding shares in SFSP, a Chicago-based railroad, energy and real estate concern; Henley owns 14.7%. In a new filing with the SEC, the Toronto company gave no reason for deciding against the $63-per-share offer but said it was exploring "alternative transactions" with SFSP.

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