The company said it was reviewing a friendly $50-a-share merger bid from American Stores.

Holly Farms' shareholders rejected Conagra's merger bid.

In return, Carteret was given 30 days to solicit other merger bids.

It could also spur additional merger bids.

Just last week, the company's stock price spurted on rumors that a merger bid was imminent.

On May 7, 2010, however, they rescinded their merger bid.

On December 19, 2011, AT&T announced that it would permanently end its merger bid after a "thorough review of its options".

Staley Continental has accepted an improved merger bid of $36.50 a share, or $1.48 billion, from Tate & Lyle, the large British sugar refiner.

The Takeover Panel is the referee in merger bids involving British companies.

The consequence is that merger bids aimed at improving performance will tend to fail.