The economic calendar in the U.S. Monday includes the Institute for Supply Management's June manufacturing index at 10 a.m. EDT; economists surveyed by Reuters expect a reading of 52.0 versus 53.5 in May. Construction spending for May also is scheduled for 10 a.m.
Bristol-Myers Squibb ( BMY) is purchasing diabetes drugmaker Amylin Pharmaceuticals ( AMLN) in a deal valued at about $7 billion. Bristol-Myers will pay $31 a share in cash for San Diego-based Amylin. The deal includes Amylin's net debt and a payment obligation to Eli Lilly bringing the total value of the transaction to about $7 billion, the companies said. The purchase price offers a 9.9% premium of to Amylin's closing share price Friday of $28.20.
Germany's Linde agreed to buy Lincare Holdings ( LNCR) for about $3.8 billion. Under the deal, Linde will pay $41.50 a share for Lincare, a leader in the U.S. home respiratory market. Lincare shares closed Friday at $34.02.
The interest rate rigging scandal has claimed its first victim. Barclays PLC ( BCS)Chairman Marcus Agius departs following the bank's $453 million settlement of an investigation into alleged interest rate manipulation. Regulators in the U.S. and the U.K. alleged that Barclays had submitted false data for setting the London interbank offered rate, or Libor, between 2005 and 2009. Agius has been chairman at Barclays since the beginning of 2007. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.