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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


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Date of Report (date of earliest event reported):  May 14, 1997


                               ZAPATA CORPORATION
             (Exact name of registrant as specified in its charter)



          Delaware                      1-4219                  C-74-1339132
(State or other jurisdiction      (Commission File No.)       (I.R.S. Employer
     of incorporation)                                       Identification No.)


                              1717 St. James Place
                                    Suite 550
                              Houston, Texas 77056
                    (Address of principal executive offices)


                                 (713) 940-6100
              (Registrant's telephone number, including area code)


                                 Not Applicable
          (Former name or former address, if changed since last report)


                                                      
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Item 5.       Other Events

         The information set forth in the attached press release issued by
         Zapata Corporation and filed as Exhibit 99.1 hereto announcing the
         Company's proposal to acquire Envirodyne Industries, Inc.

         The information set forth in the attached press release issued by
         Zapata Corporation and filed as Exhibit 99.2 hereto announcing the
         Company's commitment to acquire Envirodyne Industries, Inc.

         The information set forth in the attached press release issued by
         Zapata Corporation and filed as Exhibit 99.3 hereto announcing that the
         Company authorized the repurchase of additional shares of its common
         stock.


Item 7.  Financial Statements and Exhibits

         (c) Exhibits.

             Exhibit 99.1 - Zapata Corporation press release dated May 14, 1997.

             Exhibit 99.2 - Zapata Corporation press release dated May 15, 1997.

             Exhibit 99.3 - Zapata Corporation press release dated May 15, 1997.


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                                   SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                   ZAPATA CORPORATION




                                   By:    /s/ Joseph L. von Rosenberg III
                                      ------------------------------------------
                                       Joseph L. von Rosenberg III
                                       Executive Vice President, General Counsel
                                          and Corporate Secretary



Date:  May 20, 1997



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                                  EXHIBIT INDEX


   Exhibit                                       Description
   -------                                       -----------
Exhibit 99.1               Zapata Corporation press release dated May 14, 1997.

Exhibit 99.2               Zapata Corporation press release dated May 15, 1997.

Exhibit 99.3               Zapata Corporation press release dated May 15, 1997.