NEW YORK (AP) – U.S. stocks are moving higher, following big gains in Europe and the latest moves in corporate dealmaking.
A bidding war for Family Dollar sent that company’s stock higher. Family Dollar rose 5 percent after Dollar General offered to pay about $9 billion for the discounter in an effort to trump Dollar Tree’s bid.
The Dow Jones industrial average rose 160 points, or 1 percent, to 16,822 as of noon Eastern time Monday.
The Standard & Poor’s 500 index rose 15 points, or 0.8 percent, to 1,970.
The Nasdaq composite climbed 38 points, or 0.9 percent, to 4,503.