hostile bid

In a surprise decision by a government that has historically favored foreign investment, Canada has rejected a foreign takeover bid for Saskatchewan-based Potash Corp. Australian mining company BHP Billiton had offered $38.6 billion in what would have been the world's largest corporate acquisition this year.

There's a new plot twist in the takeover battle between French pharmaceutical giant Sanofi-Aventis and U.S. drugmaker Genzyme. A regulatory filing made by Genzyme on Thursday claims Sanofi may be willing to go much higher than its current $69 bid -- a claim the French company disputes.

After months of courting U.S. drugmaker Genzyme, French pharmaceutical company Sanofi-Aventis launched a hostile bid valued at approximately $18.5 billion, or $69 a share, for all outstanding shares of Genzyme common stock.

Avis Budget has increased its offer for Dollar Thrifty, firing the latest salvo in its bidding war for Dollar with archrival Hertz. It's a familiar pattern in the world of mergers and acquisitions, and the data shows that interlopers like Avis often a better chance of taking home the prize.

Convenience-store chain 7-Eleven offered $2 billion to acquire competitor Casey's General Stores, topping a hostile bid by Canada's Alimentation Couche-Tard

Air Products & Chemicals (APD) has raised its bid for Airgas (ARG) to $65.50 a share in an all-cash offer. The latest offer represents a 50% premium above Airgas' closing stock price on Feb. 4, the day prior to Air Products submitting its first acquisition plan, Air Products said Monday in a written statement.

Pharmaceutical giant Sanofi-Aventis is unwilling to pay more than $70 a share in its bid to buy biotech firm Genzyme, media outlets reported Wednesday. If a deal can't be reached, the French drugmaker may consider alternative takeover targets.

Think struggling book retailer Borders finished with layoffs in 2010? With four rounds of layoffs so far this year and no new ideas for a turnaround, don't be surprised if co-CEO Bennett Lebow pulls out his old 1980s playbook and makes a bid for, say, Barnes & Noble.