Stock-Market Euphoria Threatens $170 Billion Takeover Wave
- Deals from weeks before vaccine news now look less generous
- KAZ Minerals, Codemasters Group trade above takeover bids
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The global market euphoria is threatening to unravel some of the recent flurry of dealmaking.
More than $170 billion of listed company takeovers were agreed worldwide in the month leading up to Pfizer Inc.’s Nov. 9 announcement of its successful vaccine trials, according to data compiled by Bloomberg. The subsequent stock rally has made many of the deals just struck look suddenly less generous.