Market Overview

Merger Monday Makes A Return

Merger Monday Makes A Return

Merger Monday may have made a return to Wall Street this week, as a number of high-profile deals were announced over the weekend or on Monday morning. In case you missed it, here’s a rundown of all the M&A action moving the market on Monday.

  • The biggest deal of the weekend was the $26 billion T-Mobile Us Inc (NASDAQ: TMUS) buyout of Sprint Corp (NYSE: S). The market sent T-Mobile stock down 7.5 percent and Sprint stock down 15.1 percent.
  • Prologis Inc (NYSE: PLD) announced an $8.4 billion buyout of DCT Industrial Trust Inc (NYSE: DCT). The news sent DCT shares soaring 10.5 percent, but Prologis dipped 3.4 percent.
  • Walmart Inc (NYSE: WMT) announced the sale of British supermarket Asda to Sainsbury’s in exchange for $4.1 billion and a 42 percent stake in the combined company. Walmart traded higher by 1.2 percent following the news.
  • Laboratory Corp. of America Holdings (NYSE: LH) announced the sale of Covance Food Solutions to Eurofins for $670 million. Laboratory Corp. traded lower by 1 percent.
  • Marathon Petroleum Corp (NYSE: MPC) announced a $20 billion buyout of Andreavor (NYSE: ANDV), sending Andeavor soaring 13.4 percent and Marathon down 7.4 percent.
  • United Therapeutics Corporation (NASDAQ: UTHR) announced a $216 million buyout of Steadymed Ltd. (NASDAQ: STDY). Investors must see this deal as a win-win, with Steadymed up 77.3 percent and United stock up 0.5 percent on the day.
  • Marriott Vacations Worldwide Corp (NYSE: VAC) announced a $4.7 billion buyout of ILG Inc (NASDAQ: ILG) ILG traded higher by 4.6 percent, while Marriott tanked by 10 percent.
  • Spark Therapeutics Inc (NASDAQ: ONCE) announced the sale of its priority review voucher for $110 million to Jazz Pharmaceuticals PLC (NASDAQ: JAZZ). Spark traded higher by 0.4 percent, while Jazz traded lower by 0.4 percent.
  • Hellman & Friedman announced a $3 billion buyout of Financial Engines Inc. (NASDAQ: FNGN). The deal send Financial Engines spiking 31.7 percent.

All together, the flurry of recent deals represents more than $65 billion in M&A activity.

Related Links:

Sprint And T-Mobile To Merge In $26 Billion Deal: What You Need To Know

For Sprint, M&A Talks With T-Mobile Outweigh 'Rocky Fundamentals,' Macquarie Says


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