US stocks ended higher on Monday, with financials leading the rally, propped up by reports of advancement in Washington toward reaching an agreement to bypass the fiscal cliff of tax and spending measures that could tip the economy back into slump. Some other deals of the day are discussed below.
Cheniere Energy Partners LP (NYSEAMEX:CQP) inked a 20-year deal Monday under which it will supply French energy firm Total S.A. (ADR)(NYSE:TOT) with 2 million tons per year of liquefied natural gas from Cheniere’s export facility being established in Louisiana. The agreement means that almost all of the LNG export capacity presentlyallowed in the US has been set aside.
American International Group, Inc.(NYSE:AIG) announced that it priced the sale of its rest of stake in AIA Group Ltd., the pan-Asian life insurer once considered one of its crown jewels, in a contract that could produce as much as US$6.52 billion.[article_detail_ad_1]
The actual price will be unveiled before the opening of the Hong Kong stock market Tuesday, AIG stated. It had presented investors 1.65 billion AIA shares in the range of HK$29.65 to HK$30.65 or US$3.83 to US$3.95 per share.
Sprint Nextel Corporation(NYSE:S) has signed anagreement to pay $2.2 billion for the remaining 50% share it does notformerlyhave in wireless carrier Clearwire Corporation(NASDAQ:CLWR).
The contract, for $2.97 per share, has the support of Clearwire’s board as well as a handful of key shareholders. Still, the transaction is expected to anger some marginal shareholders who have been holding out for a greater offer.
Sprint’s move to combineClearwire’s assets, which comprise a substantial amount of wireless spectrum, is seen as key to a strategy meant to discontinue the US wireless market controlled by Verizon Communications Inc.(NYSE:VZ)’sVerizon Wireless and AT&T Inc.(NYSE:T).
Verizon Communications settled at $44.12 with the change of -$0.09 or -0.20% while AT&T Inc. settled at $34.23 with the change of +$0.22 or +0.65%.