Bids for Gateway Raised: British investor group...

Bids for Gateway Raised: British investor group Isosceles PLC raised its hostile bid for Gateway Corp., Britain’s third-biggest supermarket chain, by 31 cents to $3.60 a share, valuing the company at $3.2 billion. But rival bidder Newgateway, which includes U.S. investment banker Wasserstein Perella & Co., struck back within hours, raising its friendly offer to $3.67 a share from the $3.51 it offered earlier. The new offer is worth $3.26 billion. Isosceles also disclosed that it had bought a key 15.1% stake in Gateway from another British food group, bringing its stake in the food retailer to 41.9%. Newgateway said it held just 0.56%.