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Market Update : 
Schering Jumps 26% on Hostile Bid
Author: Elena Todorova
123jump.com
Last Update: 12:28 PM EST March 13 2006



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Stocks came off intraday highs, posting weakness on rising crude oil prices and pressured Treasury yields. U.S. stocks advanced Monday morning on a string of merger deals, including a $14 billion bank takeover that lifted regional bank shares. North Fork Bancorp rose 17% on agreement to be acquired by Capital One for $14.6 B in cash and stock. Schering AG soared 26% after rival German drug maker Merck KGaA made a hostile bid for the company for $17.4 billion.

 

 

 

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