Intergroup board rejected Leucadia bid.

Directors of National Intergroup Friday rejected a $750-million merger proposal from Leucadia National saying the offer was highly conditional and that it is not an appropriate time to sell the diversified metals and consumer finance company. Leucadia, a New York life insurance and consumer finance company, said its $35-per-share offer was not rejected as inadequate and “called upon the (National Intergroup) board to specify its plans to enhance shareholder value.” On Friday, National Intergroup said it was continuing its review of a financial restructuring.