NORCROS REJECTS 542.2 MLN STG BID FROM WILLIAMS Norcros Plc <NCRO.L> the building products and packaging group said its board had no hesitation in unanimously rejecting this morning's 542.2 mln stg bid from <Williams Holdings Plc>, the industrial holding firm. The company said Williams' 432.7p per share offer was unsolicited and unwelcome and significantly undervalues Norcros. By 1228 gmt Norcros shares were quoted at 418p, up from 397p at yesterday's close. Williams was 15p higher at 765. The Norcros board's detailed views will be sent to shareholders when the formal offer document has been issued by Williams.