This week was kicked off by another “Merger Monday” and that might be bad a sign for stocks.
Among the day’s deals: General Electric is combining its oil-and-gas business with oil services firm Baker Hughes, a move that will create an energy powerhouse with $32 billion in annual revenue. CenturyLink and Level 3 said they’re joining forces in a $25 billion marriage in the communications space.
In October, U.S. merger-and-acquisition deals have totaled $330.3 billion, the second-best monthly total on record, trailing only July 2015’s $332.3 billion, according to Dealogic.
