Stocks Opened Lower; Deals in Focus

U.S. stocks struggled for direction in the early trading on Monday amid a flurry of deal news, including the takeover of Family Dollar Stores Inc. by Dollar Tree Inc. The Dow Jones Industrial Average lately shed 48.69 points, or 0.29%, to 16,911.88. The S&P 500 was down 7.57 points, or 0.38%, to 1,970.77. The Nasdaq Composite lost 19.02 points, or 0.43%, to 4,430.55.

Dollar Tree (DLTR) announced it would acquire rival Family Dollar Stores (FDO) with a cash-and-stock bid worth $8.5 billion Monday morning, marking another victory for activist investors Carl Icahn and Nelson Peltz.

Zillow will acquire Trulia in a $3.5 billion stock deal, the companies announced Monday. The deal, approved by both companies’ boards, is expected to close next year.

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