Monday, May 21, 2007

U.S. Stocks Climb on Takeovers; S&P Rises Above Record Close Set in 2000

(Bloomberg) -- U.S. stocks climbed and the Standard &
Poor's 500 Index rose above its highest close after Goldman Sachs
Group Inc. and TPG Inc. agreed to buy Alltel Corp. for about
$24.7 billion, extending this year's record pace of mergers and
acquisitions.

Alltel, the fifth-biggest U.S. wireless company, rallied to
its highest in almost eight years and was the best performer in
the S&P 500 after the $71.50-a-share offer. General Electric Co.
advanced after the world's second-largest company by market value
said it will boost its share buyback plan by as much as $2
billion with proceeds from the sale of its plastics unit.


Read more at Bloomberg Stocks News

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