Scor buys Converium stake, has full bid rebuffed
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French reinsurer Scor  grabbed hold of a third of its rival Converium , but the Swiss firm rejected a full takeover offer that valued its business at 3.1 billion Swiss francs ($2.51 billion).
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The London Stock Exchange (LSE) today rejected an offer from Deutsche Borse, its bigger German rival, valuing it at about Â£1.35 billion ($2.6 billion), or 530pence per share, a significant premium to Fridayâs closing price of 430 pence.
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$1.20 to go SCO Group shares went south in a hurry during Friday's trading, as investors reacted to the company's legal misfortunes.â¦
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While still fighting in the courts and fresh from filing for Chapter 11 bankruptcy protection last month, The SCO Group could soon be selling its steadily-declining Unix business.In a filing Tuesday in U.S. Bankruptcy Court in Delaware, the Lindon, Utah-based company said it has received a "potential" $36 million offer for its Unix business from JGD Management, an umbrella business of New York-based investment firm York Capital Management. The filing has been posted on the Groklaw.com Web site, which has been tracking the legal records of the ongoing lawsuits between SCO, IBM, Novell, and others. In it, SCO reports that the offer includes money for its Unix business, litigation claims, and for litigation expenses.The bid is subject to approval by the bankruptcy court, according to the filing, and competitive bids could still be accepted from other potential buyers.SCO filed for Chapter 11 bankruptcy reorganization last month as it began seeking ways to stay in business amid mounting expenses and several legal rulings that have hurt its legal fights with IBM and Novell.If SCO gets out of the Unix business, it would continue solely as a mobile application platform vendor, which it has been working to become over the last several years.An SCO spokesman could not be reached for comment about the buy-out offer. A spokesman for York Capital Managament declined to comment on the matter.Three weeks ago, in an interview with Computerworld, SCO CEO Darl McBride said his company would continue to make moves to remain a viable business, despite the death knells sounded by some critics.According to the terms of the York offer, approval of the deal is required from the bankruptcy court by Nov. 9, with the transaction needing to be completed by Dec. 7.Computerworld is an InfoWorld affiliate
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Scottish and Newcastle said Thursday it has rejected an improved bid from Danish group Carlsberg and Dutch peer Heineken that was worth about 7.6 billion pounds (10.1 billion euros, 14.8 billion dollars).
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Lazard's board on Tuesday failed to  decide on a share sale that would end over 150 years of private  ownership at the independent investment bank but most partners  seemed to back the plan, sources close to the matter said.
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India's Tata Steel  raised a  bid for Anglo-Dutch steelmaker Corus  to an agreed 4.7  billion pounds ($9.2 billion) on Sunday as it seeks to head off  a potential counterbid from Brazil's CSN .
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Rio Tintoâs $38.1 billion bid exceeds a $28 billion offer from Alcoa Inc. that Alcanâs board roundly rejected.
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The board of Mylan Laboratories rebuffed the financier Carl C. Icahn&#39;s bid to buy the company yesterday, saying it remained committed to acquiring the brand-name drug maker King Pharmaceuticals.
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Inco Ltd.  conceded defeat in its  bid for fellow Canadian miner Falconbridge Ltd.  on  Friday because it did not receive enough shares, and in doing  so ended a drawn-out battle with Swiss-based Xstrata Plc   for the copper and nickel producer.
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By DAN BUGLASS  ELPHINSTONE Land, the property development company which 18 months ago acquired United Auctions, widely regarded as Scotland's largest auctioneering company, in a GBP54m deal, was yesterday refused planning consent to build a GBP10m mart on the outskirts of Stirling.
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Deutsche Boerse, operator of the German stock exchange, refused to budge on the terms of its offer to merge with Euronext, indicating it would not be drawn into a bidding battle with the New York Stock Exchange for the pan-European rival.
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The board of Scania trucks rejected immediately a takeover bid by German industrial group MAN of 9.6 billion euros (12.2 billion dollars) intended to create a world leader in the sector for lorries and utility vehicles.
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A fresh bidding war for Anglo-Dutch steelmaker Corus has erupted when Brazilian group CSN offered about 5.8 billion pounds (8.6 billion euros, 11.3 billion dollars) shortly after Corus had accepted a lower bid from Tata Steel of India.
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SYDNEY: Directors of Australian mining giant WMC Resources Ltd. have rejected a renewed A$7.4b (US$5.7b) takeover offer from British-Swiss Xstrata Plc.
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LONDON (CBS.MW) -- GenCorp (GY) said it has rejected an unsolicited takeover approach from Steel Partners II LP that was valued at $772 million, saying the offer was inadequate.
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Imperial Chemical Industries, Britainâs largest specialty chemical maker, said today that it had rejected a takeover bid from Akzo Nobel worth Â£7.2 billion, or $14 billion, as too low.