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Times Staff and Wire Reports

Conrail’s board of directors authorized new merger talks as the company conceded it may unable to meet the goals of its original agreement with CSX Corp. The plan under discussion calls for CSX to buy Conrail for about $10.5 billion and sell half of its routes to Norfolk Southern, which had made a hostile bid for CSX. Details have not been finalized. . . . Executive search firm Interim Services Inc. said it bid $564 million for British executive recruitment company Michael Page Group. . . . The Securities and Exchange Commission expects to phase in 850 Nasdaq Stock Market stocks under the new order-handling rules rather than introducing the securities all at once as originally planned.

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