U.S. stocks traded higher in premarket trading on Thursday, with the main indexes in green.
DST Systems Inc. (DST, Financial) traded higher Thursday morning after announcing SS&C Technologies Inc. (SSNC, Financial) will acquire the company for $84 per share in cash. The deal is valued at $5.4 billion plus assumption of debt. The new business will have $3.9 billion in revenue and 13,000 clients.
SS&C will see its business expanding into the U.S. retirement and wealth management markets, adding 110 million or more investor positions. Further, it will have about $150 million of cost savings per year by 2020.
The deal is expected to close in the third quarter.
Gainers
- Chesapeake Energy Corp. (CHK, Financial)
- Anadarko Petroleum Corp. (APC, Financial)
- Viacom Inc. (VIAB, Financial)
- Xerox Corp. (XRX, Financial)
- Hess Corp. (HES, Financial)
Losers
- Incyte Corp. (INCY, Financial)
- Digital Realty Trust Inc. (DLR, Financial)
- Crown Castle International Corp. (CCI, Financial)
- Hormel Foods Corp. (HRL, Financial)
- Southern Co. (SO, Financial)
Global markets
In Europe, the U.K.'s FTSE 100 rose 0.19% and Spain's IBEX 35 gained 0.07%, while France's CAC 40 fell 0.29% and Germany's Dax retreated 0.50%.
In Asia, Japan's Nikkei 225 lost 0.33%, while India’s BSE Sensex advanced 0.20%, Hong Kong's Hang Seng rose 0.15% and China's SSE Composite gained 0.10%.
Disclosure: The author holds no positions in any stocks mentioned.
