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Market Update : 
Ceridan to Be Acquired for $5.3 B
Author: Elena Todorova
123jump.com
Last Update: 12:00 PM EDT May 31 2007

U.S. market averages posted gains Thursday morning, buoyed by another wave of takeover deals which helped offset weaker-than-expected economic growth in Q1. In addition to Wachovia''s decision to buy brokerage A.G. Edwards for $6.8 B, Morgan Stanley announced that it bought Australia''s Investa Property Group for $3.9 B. In another deal, Ceridian said late Wednesday it will be bought out by investment firm Thomas H. Lee Partners LP and insurance provider Fidelity National Financial for $5.3 B.

 

 

 
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