Newspaper wrap-up 3-8-07: Nikko investor rejects Citiroup offer

MAJOR PAPERS:

The Financial Times (subscription required) reported that General Motors Corporation's (NYSE: GM) CEO Rick Wagoner expressed caution about the possibility of General Motors adding new brands or US manufacturing plants to its portfolio, remarks that are likely to quash expectations of an imminent GM bid for cross-town rival DaimlerChrysler AG (NYSE: DCX).
According to the Financial Times, Nikko Cordial's largest investor has rejected Citigroup Inc's (NYSE: C) $11B takeover bid.
Also in the Financial Times, 3M Corporation (NYSE: MMM) has filed infringement lawsuits against Sony Corporation (NYSE: SNE) and Lenovo (LNVGY), and others, including Hitachi Ltd ADR (NYSE: HIT), CDW Corporation (NASDAQ: CDWC) and Matsushita Electric Industrial Co Ltd (NYSE: MC).

OTHER PAPERS:

India's Economic Times reported that Wipro Ltd ADS (NYSE: WIT) is said to be close to acquiring an unnamed U.S. aerospace services company for about $90M.
According to the U.K. Times, Procter & Gamble Company (NYSE: PG) has said it is willing to team up with private equity firms to pursue deals.

Tags: 3m, c, cdw, cdwc, citigroup, daimlerchrysler, dcx, economic times, EconomicTimes, financial times, FinancialTimes, ft, general motors, GeneralMotors, gm, hit, hitachi, lenovo, lnvgy, matsushita, mc, mmm, newspaper, paper, periodical, sne, sony, u.k. times, U.k.Times, uk times, UkTimes, wipro, wit