It took several tries but the S&P 500 finally surpassed its March 2000 record high and ended the week with a gain of 1.3%. The Nasdaq Composite rose 2.2%, the best weekly performance for the tech-heavy index since March.
The markets were closed on Monday in observation of the Memorial Day holiday so those looking forward to Merger Monday had to settle for Takeover Tuesday.
Real estate investment trust Archstone-Smith announced Tuesday morning that it agreed to be acquired for $22.2 billion by a consortium led by real estate holding company Tishman Speyer.
Avaya shares surged 15% following news reports the telecom equipment maker was in talks with a private equity firm regarding a potential deal to sell all or part of the company, according to the Wall Street Journal.