Batus Inc. extended its $4.3-billion hostile takeover...

Batus Inc. extended its $4.3-billion hostile takeover offer for Los Angeles-based Farmers Group to June 16 from May 18. Initially scheduled to expire March 30, the offer has been extended twice. Batus has said repeatedly that it expected the offer to be extended from time to time until various approvals from state insurance regulatory agencies are obtained. As of Wednesday, owners of 12.3 million of Farmers’ 69.7 million shares had said they would accept the offer.