No official basis for report of P&G bid
Amid reports that Procter & Gamble Co. has bid more than $5 billion for a stake in the maker of Nivea skin-care products, a German government agency said it had not been notified of a formal bid, Dow Jones News Service reported Wednesday.
The Federal Financial Supervisory Agency, which must be notified of any formal offer for more than a 30 percent share of a public company, said it had not received such notification of a P&G offer for a stake in Beiersdorf AG, which owns Nivea.
Taubman board turns down Simon's offer
DETROIT - Taubman Centers Inc.'s board unanimously rejected the latest takeover bid by Simon Property Group, saying Wednesday the $1.5 billion offer was inadequate.
Last week, Simon took its bid directly to Taubman shareholders, offering $18 per share in cash. This is the second time in as many months that Taubman has rejected a takeover bid by Indianapolis-based Simon.
Shareholders vote yes for TRW sale
CLEVELAND - Shareholders approved the $7.8 billion sale of TRW Inc. to defense giant Northrop Grumman Corp. on Wednesday, clearing the way for completion of a deal that will make Northrop the world's second largest defense contractor.
TRW shareholders approved the merger in Cleveland. A few hours later, Northrop shareholders meeting in Santa Monica, Calif., approved. The sale was expected to close within a day or two.
Bank ends $3 fee for teller services
CHICAGO - Bank One Corp. on Wednesday said its customers will no longer have to pay $3 to deal with tellers.
The removal of the fee, which is effective immediately, is part of Chicago-based Bank One's effort to improve service and win back disgruntled local customers.
Competitors had lampooned the teller fee.
Delta amends SkyMiles
Merger ruling one to watch
PlanetFeedback to provide outlet for whistleblower complaints
RV sales enjoy a boom year
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