U.S. stocks had their second- biggest gain of the year, helped by $17 billion in takeovers and speculation that lower borrowing costs will keep the pace of buyouts at a record.
ServiceMaster Co. surged to the highest since 2002 as the nation's largest provider of lawn-care and landscaping services agreed to be taken private. Community Health Systems Inc. said it will buy Triad Hospital Inc. for $5.1 billion. TXU Corp., target of the biggest leveraged buyout earlier this month, rose on speculation it may get a better bid.
Options traders are starting to bet policy makers will lower interest rates to counter the effects of falling real- estate prices and fuel more acquisitions as the year progresses. Federal Reserve policy makers meet this week to decide on borrowing costs.
Read more at Bloomberg.com
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