Deals
Developed Stocks Hit a Record as Merger Mania Tops $70 Billion
- Schwab, LVMH, Novartis and Mitsubishi all announce major deals
- Powered by U.S. stocks, MSCI World Index rises to highest ever
This article is for subscribers only.
A buyout frenzy is taking hold of boardrooms from Tokyo to San Francisco, and it’s adding fuel to a record-breaking rally across the world’s major stock markets.
More than $70 billion of deals has already been announced this week, with Charles Schwab Corp.’s $26 billion buyout of discount brokerage TD Ameritrade Holding Corp. leading the pack. Luxury goods giant LVMH, Swiss drugmaker Novartis AG and Japanese conglomerate Mitsubishi Corp. are among a slew of companies which have also announced multibillion-dollar transactions.