There was much hyperventilation this weekend over last week's market performance. Jittery traders and dealmakers returned to the trenches Monday, uncertain as to what they would experience when the market opened.
Some business journalists were more certain: The sky has fallen. The New York Times put it this way:
For several years, the size and volume of deals announced at the start of the week set the tone and pace for the global financial markets for the next five days, more often than not sparking rallies that sent shares to new highs. But given the rout in the markets last week, “Merger Monday,” as the day is known, may be on hold — indefinitely.
As of this morning, the markets are relatively calm. At noon, the market is up about 10 points since the opening bell. Meanwhile, the death of Merger Mondays may have been prematurely reported. Of note:
Not a bad lineup of deal action for a late-summer Monday. And that's without mentioning the ABN Amro Bank NV saga and the Bancrofts.
A quick scan of Monday, July 31, 2006, headlines in TheDeal.com reveals a much slower news day. The big headlines:
—Tom Groppe
See Verizon/Rural deal on TheDeal.com
See Ingersoll deal on TheDeal.com
See ICI rejection story on TheDeal.com
Tags: deals, acquisition, m&a, mergers, private+equity
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