Acquisition, Bid | featured news

Rupert Murdoch’s News Corporation, the parent company of HarperCollins, is exploring a cash bid for Pearson PLC’s Penguin book division, a step that could ignite a bidding war for Penguin as the publishing industry begins to move toward consolidation.

Rupert Murdoch's News Corporation is looking to bid for the Los Angeles Times, the paper has reported, adding Murdoch is also interested in buying its stablemate the Chicago Tribune from their parent company, the Tribune Company.

Home-improvement company Lowe's is withdrawing its buyout bid for Rona Inc., saying that the Canadian home-improvement company's board does not seem to want to engage in talks.

Microsoft Corp is considering a bid for Yahoo Inc, resurfacing as a potential buyer after a bitter and unsuccessful fight to take over the Internet company in 2008, sources close to the situation said on Wednesday.

On Tuesday, PopCap games announced it was being acquired by Electronic Arts, confirming speculation that circled late last month. The deal is valued as high as $1.3 billion in cash and stocks. But the company reportedly also fielded a huge offer from social gaming giant Zynga.

Hewlett-Packard Co. is bidding $1.5 billion for data storage provider 3Par Inc., offering 33 percent more than what rival Dell Inc. agreed to pay for the company just a week earlier.

Swedish-based producer of home appliances group Electrolux is one of two preferred bidders for Daewoo Electronics.