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 4.8% to $68.50 in premarket trading Monday.

Shares of


(BP) - Get BP p.l.c. Sponsored ADR Report

were spiking 3% to $39.63 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



(LOW) - Get Lowe's Companies, Inc. (LOW) Report

, the home-improvement retailer, said Monday it has been authorized to buy back up to

$5 billion of its common stock.

Shares were rising 2.6% to $19.82.

Shares of

Suntech Power


were rising 1.6% to $5.18 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) - Get Verizon Communications Inc. Report

employees have


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 1.6% to $35.25.

Car rental company

Dollar Thrifty Automotive Group

( DTG) appears to be growing


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with its suitors, on Sunday sending a letter to

Hertz Global

(HTZ) - Get Hertz Global Holdings, Inc. Report


Avis Budget

(CAR) - Get Avis Budget Group, Inc. Report

, asking them to submit their "best and final definitive proposals" on potential mergers by October.

Shares of


(HPQ) - Get HP Inc. (HPQ) Report

took a big dive of 20% to $23.60 Friday after the computer hardware company unveiled a


corporate and strategic overhaul on Thursday, ditching its WebOS devices and potentially spinning off its PC business.

South Korean trading firm

Samsung C&T

says it was thinking about buying independent U.S. oil company

Parallel Petroleum

from private equity firm

Apollo Global Management

(APO) - Get Apollo Global Management Inc. Class A Report

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


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