Stocks Close Higher

A tender offer for GM stock by Kirk Kerkorian's Tracinda Corp. lifted the markets

Stocks rallied Wednesday, aided by the news that Tracinda Corp., controlled by financier Kirk Kerkorian, announced a tender offer for up to 28 million shares of Dow component General Motors (GM ), according to Standard & Poor's MarketScope. A rise in weekly energy inventories and sense of relief after Tuesday's Federal Reserve policy statement also helped boost the markets.

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