2:40 PM New York – GE received regulatory approval to acquire Alstom. Mylan offered $27 billion in cash-and-stock to Perrigo. Strategic Hotels agreed to be acquired by Blackstone Real Estate for $6 billion. Media General agreed to buy Meredith for $2.4 billion. Dover agreed to acquire Tokheim for $473.6 million.
Tollbooth Index increased 115.33 or 1.1% to 10,243.99.
) jumped 4.4% or $2.55 to $61.21 after the industrial conglomerate agreed to acquire a part of France-based petrol station equipment provider Tokheim Group''s dispenser and system businesses for $473.58 million or €425 million.
The transaction is expected to close early in 2016.
E*TRADE Financial Corp
soared 6.9% or $1.74 to $27.14 after the brokerage and financial services provider said it will eliminate the wholesale funding obligations of about $4.4 billion by the end of the quarter.
The brokerage and financial services provider said it will create capacity to start accepting low-cost deposits over the next several quarters.
General Electric Company
jumped 2.1% or 51 cents to $24.51 after the diversified industrial conglomerate today received regulatory approval to acquire the power business of France-based Alstom SA in $13.5 billion.
The approval was announced by the European Union competition commissioner Margrethe Vestager in Strasbourg, France.
Alstom said it aimed to close the sale of its energy business to GE in the fourth-quarter of this year.
Alstom stock increased 1.3% to €28.98.
Media General Inc
) gained 9 cents to $11.24 after the regional and local media and TV channels operator agreed to acquire Meredith Corp. for about $2.4 billion in cash and stock.
Under the terms, shareholders of Meredith will receive cash and stock valued at $51.53 per share, 12% premium to the closing price of Friday.
The transaction is expected to close by June 30, 2016.
rose 20 cents to $48.25 after the pharmaceutical company offered to acquire the Ireland-based generic drug and ingredients maker Perrigo Company plc for about $27.14 billion in cash-and-stock.
The offer valued Perrigo at about $185.52 per share, 4% to the closing price of Friday.
) surged 6% or 72 cents to $12.71 after the photovoltaic energy solutions developer agreed to acquire a 33% interest in a portfolio of solar assets from Dominion Resources Inc. for about $300 million.
SunEdison and Dominion also agreed to develop 210 mega watt Three Cedars Solar project in Utah.
Strategic Hotels and Resorts Inc
) jumped 3.5% or 47 cents to $14.07 after the self-managed real estate developer agreed to be acquired along with subsidiary of Strategic Hotels Funding LLC by affiliates of Blackstone Real Estate partners VIII LP.
Under the terms, the deal offered for $14.25 per share or $6 billion including debt, a premium of 4.8% on closing price of Friday.