Monday brought news of yet another large acquisition of a U.S. company by a German industry titan, adding up to the biggest year on record for German-American buyouts. Drugmaker Merck KGaA said it will buy St. Louis-based Sigma-Aldrich (SIAL), which supplies chemicals and kits to the life-science industry, for $17 billion. Diversified giant Siemens (SIEGY) on Sunday night confirmed last week’s rumors that it is buying Houston
Investors clamored for Alibaba Group on Friday, sending its stock up 38% in heavy volume on its first day of trading following its record-setting IPO. The stock opened at 92.70, far above its offering price of 68. After rising to 99.70 and falling to 89.95, Alibaba (BABA) closed at 93.89. It ended the day as one of the world’s most valuable tech companies, with a $231 billion market capitalization. If Alibaba were in the S&P 500,
In one of the most hotly anticipated IPOs of all time, Alibaba Group did not disappoint. The China e-commerce giant priced 320.1 million shares at 68, the high end of its upwardly revised range. The initial public offering raised $21.8 billion, making it the largest-ever U.S. IPO and giving it a market valuation of $168 billion — above Amazon (AMZN) but below Google and Facebook. Alibaba stock will begin trading on the NYSE Friday