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Stocks Sink Ahead of Tax Bill Vote

Shares of Kindred Healthcare slipped after reaching an agreement to be acquired in a $4.1 billion deal.

U.S. equities were lower as investors await a vote by Congress on the tax reform bill. The three benchmark U.S. indexes were in the red during midday trading.

Shares of Kindred Healthcare Inc. (KND) slipped after reaching an agreement to be acquired for $9 a share by Humana Inc. (HUM) - Get Humana Inc. (HUM) Report and two private-equity firms, TPG Capital and Welsh, Carson, Anderson & Stowe. The total value of the deal is about $4.1 billion in cash, including debt.

Meanwhile, United Parcel Service Inc. (UPS) - Get United Parcel Service, Inc. Class B Report stock rose slightly after announcing a reservation for 125 of Tesla Inc.'s (TSLA) - Get Tesla Inc Report new fully-electric Semi tractors. The new tractors will join UPS's extensive alternative fuel and advanced technology vehicle fleet, comprised of trucks and tractors propelled by electricity, natural gas, propane and other non-traditional fuels. 

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