Damon Corp. shares surged after American Magnetics...

Damon Corp. shares surged after American Magnetics Corp., a small computer peripherals concern, renewed takeover efforts with a tender offer valuing the diversified medical technology company at $225 million. Damon shares jumped $5.75 to $24.625 on the New York Stock Exchange, quickly surpassing the $24-a-share American Magnetics offer on speculation that a higher bid will emerge or that Damon will boost its stock price in a restructuring. Traders said Damon was likely to reject the new offer since it already rebuffed a previous cash-and-stock offer from American Magnetics valued at $30 a share.