The major indices closed in the green Monday with merger talks dominating the headlines during the afternoon session. The Nasdaq was the biggest winner today, closing at an all-time record high as tech tie-ups pushed the index higher.
21st Century Fox (FOXA) shares halted trading temporarily Monday as the stock shot up after CNBC reported that Disney (DIS) held talks with the company to purchase most of its assets. The talks are not ongoing, however, according to reports. Sources told CNBC that Fox is tepid about the scalability of media in the current climate.
Merger Monday was in full swing in the tech sector after Broadcom made an unsolicited $105 billion bid for rival Qualcomm (QCOM) . With debt considerations included the deal could be worth as much as $130 billion, making it the largest acquisition in technology history. Qualcomm shares rose more than 1% on over six times the stocks normal volume in trading Monday.