offer

Cephalon (CEPH) announced its board formally rejected Valeant Pharmaceuticals International, Inc.'s March 29 unsolicited proposal to purchase the company for $73 per share. Shares of Cephalon are down over 1% to $76.50 in pre-mark

The higher price is contingent on Rio gaining acceptances from holders of more than half of Riversdale shares by March 23.

RIO, which extended the offer period to April 1, said it would not raise its offer in the absence of a competing offer.

Rio Tinto plc (RIO) raised its cash offer for Riversdale Mining to $16.50 per share, up from the $16 offered in December.

Warner Music has a potential upside of 13.4% based on a current price of $5.84 and an average consensus analyst price target of $6.63.

Warner Music Group (NYSE:WMG) is reportedly disappointed by bids, according to a Bloomberg report, after the company got bids of $1.5 billion to $2 billion for its Warner Chappell music-publishing business.

The Chinese company said the offer price was higher than the current stock price, which closed at $6.26 Friday, according to an AP report.

The company had about 27.6 million shares outstanding as of Nov. 8, implying that the purchase price was more than $172.7 million.

China Fire & Security Group Inc. (CFSG) is up 7.35% to $6.72 on a buyout offer from an undisclosed private equity firm.

An analyst at Canaccord Genuity said that the miner may bid for the company, which is evaluating bids from Equinox Minerals and Inmet.

Freeport-McMoRan has a potential upside of 24.4% based on a current price of $51.81 and an average consensus analyst price target of $64.44.

Freeport-McMoRan (NYSE:FCX) may seek a Lundin takeover, according to a Bloomberg report.

Perry Ellis International (PERY) announced it intends to offer, subject to market and other conditions, 2.0 million shares of its common stock and $125 million in aggregate principal amount of senior subordinated notes due 2019 th

Shares closed at $40.40.

Duncan Energy Partners (DEP) is reportedly downgraded to Sector Perform from Outperform at RBC Capital, after the company received a $42 per share buyout offer from Enterprise Products (EPD).

Sanofi CEO Chris Viehbacher reportedly told the paper that "it's a possibility" and noted that there is no time limit in the US on takeover bids.

Sanofi ADRs are down 1.1%, or $0.38, to $34.31. Genzyme shares are down 0.1%.

Sanofi-Aventis (SNY) may extend its offer for Genzyme (GENZ) for a third time, Bloomberg reported, citing the French daily newspaper La Tribune.

Sara Lee has rejected a takeover offer from a private-equity firm led by Apollo Global Management, a source tells Reuters. The offer was valued at up to $20 a share. Another source says JBS made a verbal offer of about $21 a share