Market Wrap: AT&T/DirecTV Chatter Fires Up; Allergan Snubs Valeant; Big Food M&A
Market wrap for May 12th
End of the Day: S&P 500 up 18.2 to 1,896.65; Dow Jones up 112.1 to 16,695.47; Nasdaq up 72.0 to 4,143.86
* AT&T (NYSE: T) is said to be mulling a bid for DirecTV (Nasdaq: DTV) which could come in around $100 per share. The deal would be valued around $50 billion, roughly 29 percent above where the stock was at the end of April when rumors of a potential deal first began to circulate. Sources said AT&T and DirecTV are planning on 12-month regulatory process.
* Hillshire Brands (NYSE: HSH)