Mergers and acquisitions momentum has driven the markets today. Four big deals were initiated: Bank of New York and Mellon Financial; LSI Logic and Agere Systems; Pilgrim’s Pride and Gold Kist; and Station Casinos got a buyout offer from a group including its chairman for $4.7 billion.
Greetings from the Breaking News Desk. It’s one of the most exciting areas of CNBC and at the same time, the scariest. “Get it on” and “get it right” are our two most important and often conflicting requirements. That’s, in part, why I’ve subtitled our internal guide to working at this desk “How To Break News Before It Breaks You”.
A bit more on this M&A Monday--we mentioned LSI Logic buying Agere Systems. Now it's the Bank of New York announcing its intentions to buy Mellon Financial for $16.5 billion dollars in stock. The new company will have $1.1 trillion dollars in assets under management – making it one of the top 10 asset managers in the world.