) discontinued its merger plans with IBP Inc. (IBP
). There is speculation on Wall Street that Smithfield Foods (SFD
) may revive its takeover bid for IBP.
Fortis Inc. will buy Core Inc. (CORE
) for $4.92 per share cash.
A unit of Pure Resources will buy Hallwood Energy (HECO
) for $12.50 per share.
According to BusinessWeek's Inside Wall Street column, three firms are rumored to be interested in American Express (AXP
): Citigroup (C
), Morgan Stanley Dean Witter (MWD
) and American International Group (AIG
Inside Wall Street also reports that Service Corp. (SRV
) has received interest from LBO outfits.