OCCIDENTAL MAKES BID FOR ZAPATA
The Occidental Petroleum Corporation is offering $754 million in stock for the Zapata Corporation, a major oil services company, Zapata disclosed in Houston yesterday. Wall Street sources close to both companies said they had heard that Zapata told Occidental it was ''not for sale.'' Others close to the situation, however, insisted that such talk was just part of the bargaining process. Asked if the proposal was friendly, Armand Hammer, chairman of Occidental, said in a telephone interview: ''Yes, absolutely. I would not be a party to an unfriendly merger with anybody.''
