These 2 Stocks Show Merger Mania Isn't Just for Mondays
Most people do their best not to do too much work on the weekends. But in the investment banking world, the best time to finalize potential mergers or acquisitions is over the weekend, as markets aren't open and companies don't have to worry about the potential for leaked information to cause an immediate spike in share prices. Indeed, one reason there are many references to "Merger Monday" is that the weekend efforts of mergers and acquisitions professionals so often bear fruit by the beginning of the work week.
Yet mergers don't have to take place on Monday, and a couple of stocks are proving that point early Tuesday. Both American Equity Investment Life Holding (NYSE: AEL) and Stratasys (NASDAQ: SSYS) are seeing their shares move sharply higher after getting buyout interest from prospective acquirers, and shareholders seem excited about the prospects. Below, you'll get more details on what the companies have announced about their acquisitions.
Shares of American Equity Investment Life were up 17% in Tuesday-morning trading. The provider of insurance products got a buyout bid from Brookfield Reinsurance (NYSE: BNRE) in a bid that will, if accepted, further the trend toward consolidation in the insurance industry.
Source Fool.com