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Here are 10 things you should know for Monday, May 23:
1. -- U.S. stock futures were rising slightly on Monday while European stocks traded mixed as data pointed to further evidence of subdued growth in the eurozone.
Asian shares closed Monday's session mixed. Shares in Japan fell while Chinese markets saw gains.
Oil prices in the U.S. fell early Monday by 0.9% to $47.99 a barrel.
2. -- The economic calendar in the U.S. Monday is bare.
3. -- U.S. stocks on Friday rose as technology-industry earnings drove markets higher.
A better-than-expected quarter from Applied Materials (AMAT - Get Report) alleviated worries over the health of the tech sector, helping drive up the S&P 500 by 0.6%. The Dow Jones Industrial Average climbed 0.37%, and the Nasdaq added 1.2%.
The all-cash offer values Monsanto at $122 a share. That compares with a closing price Friday of $101.52 and is 37% higher than the closing price of $89.03 on May 9, the day before Bayer made a written proposal to Monsanto.
Bayer said the combination would boost its earnings per share by a mid-single digit percentage in the first full year, rising to double digits after that. The acquisition would generate synergies of $1.5 billion after year three, with more thereafter, Bayer claimed.
Bayer, the inventor of aspirin, insisted the purchase would fit with its identity as a life science group rather than divert attention from its pharmaceuticals, consumer health and animal health operations. It would position it better to take advantage of a surge in demand for agricultural chemicals and specialist seeds as the world's population expands by an estimated 3 billion by 2050, Bayer said.
Bayer said it plans to finance the acquisition with a combination of debt and equity, the latter to be raised largely by issuing new shares.
Shares of Bayer fell 3% in trading in Frankfurt. Monsanto shares rose 9.3% to $111 in premarket trading on Monday.
5. -- President Barack Obama on Monday lifted a half-century-old ban on selling arms to Vietnam during his first visit to the communist country, looking to bolster a government seen as a crucial, though flawed partner in a region he's tried to place at the center of his foreign policy legacy.
Obama announced the full removal of the embargo at a news conference where he signaled a desire to leave behind the troubled history between the former war enemies and reward what he described as modest progress on human rights in the one-party state.
6. -- Boeing (BA - Get Report) won an order for 100 jets from VietJet Aviation Joint Stock Co., a Vietnamese carrier, in a deal valued at $11.3 billion based on list price, according to a statement from the airline, Bloomberg reported.
VietJet will sign the agreement later Monday in Hanoi during President Obama's visit to Vietnam. Delivery of the planes will run for four years beginning in 2019 and will help the carrier expand its fleet to 200 by the end of 2023, the company said in a statement. The airline will purchase the Boeing 737 Max 200 planes, according to Bloomberg.
7. -- The U.S. is on the verge of meeting most of the economic conditions the Federal Reserve has set to increase interest rates next month, according to Eric Rosengren, the president of the Federal Reserve Bank of Boston.
He told the Financial Times he was getting ready to back tighter monetary policy after financial and economic indicators swung in a positive direction after the Fed's policy meeting in March.
Rosengren has a vote on rates this year as part of the regular rotation of regional Fed presidents on the Federal Open Market Committee.
GE said $1 billion worth of projects would be implemented with the Saudi Arabian Industrial Investments Co., which formed in 2014 by royal order to boost the country's manufacturing industry.
Another $400 million would go toward building a forging and casting manufacturing facility for the marine and energy industry in the kingdom, with hopes of it being operations by 2020 and providing more than 2,000 jobs, GE said.
In the future, there's a possibility of another $2 billion in projects coming on line as well, GE said.
9. -- Tribune Publishing TPUB decided to reject Gannett's GCI latest $864 million takeover proposal, but will agree to share confidential information with the U.S. newspaper company, people familiar with the matter told Reuters.
The move offers a path for Gannett, owner of USA Today, and Tribune Publishing, which owns the Los Angeles Times and the Chicago Tribune, to engage in negotiations following a bitter dispute.
Last week, Gannett asked Tribune Publishing shareholders to withhold support for the latter's eight nominees to the board of directors at Tribune Publishing's annual meeting on June 2.
While Tribune Publishing considers Gannett's offer of $15 a share cash to be inadequate, it will offer Gannett access to some of its confidential corporate information under a non-disclosure agreement, the people told Reuters.