TECHNOLOGY & TELECOMMUNICATIONS

Wallace Rejects Moore Buyout Bid: Wallace Computer Services Inc. rejected a $1.3-billion hostile buyout bid from Moore Corp. and filed a lawsuit seeking to block a takeover by the Toronto-based business-forms manufacturer. Wallace, a business services company based in the Chicago suburb of Hillside, said Moore’s cash tender offer of $56 per share was inadequate and that Wallace’s stockholders would be best served by the company remaining independent. Wallace urged its stockholders not to tender their shares to Moore. Moore had no immediate response to either the rejection or the suit, spokeswoman Donna Eckert said. Wallace said a merger would violate federal antitrust laws and it accused Moore of misstating facts in its public comments about the tender offer.