Dealmakers are worried about market volatility and its impact on mergers and acquisitions in the second half of the year, drawing little solace from a spate of transactions announced on Monday. Google Inc (GOOG.O) surprised the market with its largest deal to date, a $12.5 billion acquisition of phone hardware maker Motorola Mobility Holdings Inc (MMI.N). Other deals included Time Warner Cable Inc's (TWC.N) purchase of Carlyle Group's cable operator, Insight Communications, for $3 billion, Cargill Inc's deal to purchase animal feeds producer Provimi from private equity firm Permira for 1.5 billion euros ($2.1 billion) and Transocean Ltd's (RIGN.VX) $1.43 billion bid for Aker Drilling ASA (AKD.OL). It was the biggest "Merger Monday" in the United states since April 4, according to Thomson Reuters data.
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG fell by 1.16% or $-6.54/share to $557.23. In the past year, the shares have traded as low as $447.65 and as high as $642.96. On average, 3353060 shares of GOOG exchange hands on a given day and today's volume is recorded at 7143034.
Motorola Mobility Holdings, Inc. is a provider of technologies, products and services that enable a range of mobile and wireline digital communication, information and entertainment experiences. Shares of MMI traded higher by 55.78% or $13.65/share to $38.12. In the past year, the shares have traded as low as $20.77 and as high as $36.54. On average, 4288420 shares of MMI exchange hands on a given day and today's volume is recorded at 121597456.
Time Warner Cable Inc. is a cable operator in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.75% or $-0.49/share to $65.02. In the past year, the shares have traded as low as $50.41 and as high as $80.86. On average, 2134140 shares of TWC exchange hands on a given day and today's volume is recorded at 3198411.
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