American Airlines, US Airways to form largest air carrier Monday
CNNMoney: A deal to form the world's largest airline is set to be inked Monday. The merger of American Airlines and US Airways is expected to form an air travel giant larger than the current industry leader, United Continental Holdings. The deal cleared a series of legal hurdles, including an antitrust lawsuit this fall from the Justice Department and a last-minute challenge from a consumer group.
Sysco to buy US Foods for $3.5 billion
The New York Times: Sysco Corp. agreed on Monday to buy US Foods Inc. for about $3.5 billion in stock and cash, uniting two of the biggest food distributors in the country. Under the terms of the deal, Sysco will pay $3 billion in stock and $500 million in cash. The transaction will give US Foods' current owners, the investment firms Clayton, Dubilier & Rice and Kohlberg Kravis Roberts, a stake of roughly 13 percent in the combined company. Including the assumption of US Foods' debt, the transaction is valued at $8.2 billion.
Wall Street opens slightly higher; Fed speakers due today
Reuters: Wall Street rose modestly at the open on Monday, supported by inflation data from China, but gains were likely to be capped with a number of top Federal Reserve officials speaking throughout the day. The Dow Jones industrial average rose 2.12 points or 0.01 percent, to 16,022.32, the Standard & Poor's 500 gained 2.4 points or 0.13 percent, to 1,807.49 and the Nasdaq composite added 9.715 points or 0.24 percent, to 4,072.236.