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The deal, for $34.50 per share, represents a 7 percent premium over United's closing price of $32.37 Friday. It's also a 25 percent premium to the stock's closing price of $27.55 on April 10, the day the company said it was exploring strategic options.
Beyond buyout news, the parade of corporate earnings reports continues Monday, with American Express Co. expected to weigh in. Wall Street expects the credit card issuer will turn a profit.
Merck & Co., which, like American Express is one of the 30 stocks that comprise the Dow Jones industrial average, is expected to report earnings as well Monday.
With no major economic data expected investors will be able to concentrate fully on earnings.
Dow futures expiring in September rose 2, or 0.01 percent, to 13,940, while Standard & Poor's 500 index futures rose 1.00, or 0.06 percent, to 1,546.10. Nasdaq 100 index futures fell 0.25, or 0.01 percent, to 2,055.00.
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 The dollar was mixed against other major currencies, while gold prices fell.
Overseas, Japan's Nikkei stock average rose 0.01 percent. Britain's FTSE 100 rose 0.25 percent, Germany's DAX index fell 0.17 percent, and France's CAC-40 fell 0.17 percent.
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On the Net:
New York Stock Exchange:
http://www.nyse.com/
Nasdaq Stock Market:
http://www.nasdaq.com/
[Associated Press;
by Tim Paradis]
Copyright 2007 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed. |
