Business news for Mon, 31 Dec 2007 & with word offer. 5 news.

NEW YORK (MarketWatch) - Workstream Inc. said Monday it received an unsolicited offer from a U.S.-based payroll business to determine the viability of a merger between the two companies. Any deal will be subject to the standard conditions including the completion of due diligence, regulatory approval, shareholder approval, board approval and the required valuations, Workstream said. Shares last traded at about 65 cents each.

LONDON (MarketWatch) -- The Financial Services Authority is probing a jump in the share price of U.K. waste services group Biffa ahead of an announcement in November that it had received a 1.2 billion pound ($2.4 billion) takeover bid, according to a report in the Times (of London) newspaper. The report said the FSA has written to various parties involved in the talks to ask what they knew about any possible bid before buyout groups HgCapital and Montagu Private Equity revealed their offer. The inquiry is a part of a continuing focus at the regulator on insider trading ahead of major announcements, the newspaper added.

Air France-KLM plans to keep Alitalia as a separate company overseen by a board of trustees once it has taken over the Italian airline, according to a news report Sunday citing details of the French offer.

Sites offer countless ways to turn photos into keepsakes Here's a tip if you want to make a puzzle out of a family photo:

South Korea's National Assembly passed a law allowing telecommunications companies to offer real-time broadcasting over their broadband networks.