1.   Alumax rejected the bid, leaving the door open for a higher offer.

2.   Among the reasons, said Steve Coe, executive director of Community Access, was that there was another bidder with a higher offer.

3.   Analysts also speculated that Unitrin might solicit a higher offer from another bidder or offer its own alternatives to enhance shareholder value.

4.   Analysts who follow the pharmaceutical industry cautioned that a higher offer could yet emerge for Warner-Lambert, either from American Home or Pfizer or another drug company.

5.   Analysts said a higher offer from Statoil might well end the bidding.

6.   Analysts and traders expect General Electric Co. Plc to return with a higher offer.

7.   Analysts considered a higher offer unlikely.

8.   Analysts said they expect UniChem to make a higher offer.

9.   And American Bankers could see there was no hope of a higher offer.

10.   And analysts said it was hard to see how American Bankers could walk away from the higher offer.