Sea Containers immediately jumped $2 a share and then another $4.

At $70, Sea Containers would be worth about $1 billion.

Outside of the United States, air cargo and sea containers are used.

Sea Containers said the bid was inadequate and not in the best interests of its shareholders.

Officials of Sea Containers had no immediate comment on the increased offer.

Its name comes from the former long-term tenant, Sea Containers.

Multiple sea containers of surgical and endoscopic equipment have been sent.

That offer has been rejected as inadequate by Sea Containers.

Sea Containers said the recapitalization would be subject to completion of the asset sales.

By yesterday Sea Containers stood at $48.125, after dropping 50 cents.