Sea Containers Stock Surges: The stock price...

Sea Containers Stock Surges: The stock price for Sea Containers Ltd. surged after a bidder pursuing the equipment-leasing and shipping concern raised its unsolicited takeover offer by about $200 million to more than $1 billion. The bidder is Temple Holdings Ltd., a company jointly owned by Stena Holding AG, a Swedish shipping concern, and Tiphook PLC, a British concern that provides containers to the shipping industry. In trading on the New York Stock Exchange, Hamilton, Bermuda-based Sea Containers rose $4.125 a share to $67.125. Sea Containers had said last week that it was considering recapitalizing as an alternative to the original takeover offer.