Friday Papers: Move to block cut-price Rock bid - bid news and gossip

Move to block cut-price Rock bid and Pearl confirms it is considering an offer for Resolution.

* Northern Rock bondholders are joining forces in an attempt to prevent the troubled lender from accepting a cut-price deal; RAB Capital reduces stake in Northern Rock to 6.66% from 6.9%
* Pearl Assurance confirms it is considering an offer for Resolution; no price determined
* Goldman Sachs has made an approach of about £700 million for Benfield - Telegraph
* Bid hopes fade as Scottish & Newcastle names John Dunsmore to replace Simon Froggatt as chief executive
* BAE Systems in $120 million information technology contract from US Labor Department
* The global mergers and acquisitions market hit a record £1,900 billion in the year's first nine months, but saw a large third-quarter drop after the credit market woes
* The Alcatel-Lucent chief has been given a month to present an emergency shake-up plan to her board
* Apax Partners considers selling to Sovereign fund
* SMG poised for U-turn on top job as Virgin Radio float plan is postponed - Times
* Virgin hoping to take on Sky with launch of new channel
* Foxtons US may file for bankruptcy
* Christopher Harborne raises stake in SubSea Resources to 20.68%
* Black Rock Group sells 3.1% stake in Agfa Gevaert
* International Power buys Schkortleben wind farm in Germany for £6.5 million