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November 05, 1994|From Times Staff and Wire Reports

Alleghany Cleared to Boost Its Stake in Santa Fe: Alleghany Corp. received antitrust clearance from the Federal Trade Commission to buy as much as 15% of the common stock of Santa Fe Pacific Corp. Santa Fe Pacific has been the object of a bidding war between two rival railroads, Burlington Northern Inc. and Union Pacific Corp. Alleghany has no intention of acquiring Santa Fe Pacific, said Hunter Hallowell, managing director and equity analyst at Shelby Cullom Davis in New York. It merely wants "to make money on their investment in the company," Hallowell said. His firm, which has $900 million in net equity capital, has been a shareholder in Alleghany since 1987.

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