NEW YORK (TheStreet) -- Kinetic Concepts (KCI) , a wound-care company, received a takeover bid from competitor ConvaTec that tops the terms of an agreement the company reached last month. Kinetic Concepts last month agreed to be bought by funds advised by Apax Partners, and affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, for $68.50 a share in cash, or $6.3 billion including debt. Kinetic shares were gaining 2.9% to $67.26.
Shares of BP (BP) were spiking 2.6% to $39.43 after the oil giant said it's determined to return to Libya and carry on with its oil and gas exploration program amid growing expectations that Col. Moammar Gadhafi would be ousted, The Wall Street Journal reported.
Lowe's (LOW) , the home-improvement retailer, said Monday it has been authorized to buy back up to $5 billion of its common stock. Shares were rising 2.3% to $19.75.
Shares of Suntech Power (EQUITY) were rising 5.4% to $5.38 after the solar energy company said it anticipates a sequential improvement in shipments and gross margins, after reporting a second-quarter loss of 19 cents a share vs. the average analyst expectation of profit of 15 cents a share.
Some 45,000 striking Verizon Communications (VZ) employees have agreed to go back to work on Tuesday, even though their unions have yet to nail down new contracts with the telecommunications giant. Shares were rising 1.3% to $35.15.
Car rental company Dollar Thrifty Automotive Group (DTG) appears to be growing impatient with its suitors, on Sunday sending a letter to Hertz Global(HTZ) and Avis Budget (CAR) , asking them to submit their "best and final definitive proposals" on potential mergers by October.
Shares of Hewlett-Packard (HPQ) took a big dive of 20% to $23.60 Friday after the computer hardware company unveiled a major corporate and strategic overhaul on Thursday, ditching its WebOS devices and potentially spinning off its PC business.
South Korean trading firm Samsung C&T (005930.KS) says it was thinking about buying independent U.S. oil company Parallel Petroleum from private equity firm Apollo Global Management (APO) in a deal potentially worth about $920 million, according to reports. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.