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It’s another merger Monday, with two chunky takeovers announced this morning. Bass Pro Shops is acquiring rival Cabela’s for $5.5 billion, while Janus Capital and Henderson Global Investors are teaming up in a $6 billion merger. Also, no you’re not imagining things. Allergan does seem to be striking a deal a week. The latest isn’t a takeover but it could still cost more than $1 billion. Of course, this is a fee bonanza for Wall Street.
Elsewhere, auto-sales for September are being reported today. They’re down, as expected, but one automaker – you guessed it, Tesla – is getting a lot of attention from investors on Monday after showing big gains in its ability to actually make cars. Oh, and Deutsche Bank got hit by another problem that it doesn’t need right now Here are the top Wall Street headlines at midday
Hillary Clinton is going after Wells Fargo – Her complaint is over the fact that Wells Fargo’s customer agreements mean the bank can’t be sued.
Congress just gave the maker of EpiPen another nasty deadline – The headaches will continue at Mylan until transparency improves.
China’s yuan has joined an elite club of currencies – On Saturday, the Chinese currency was added to the IMF’s special drawing rights (SDR) basket.
GOLDMAN: Big-money investors are dumping stocks at the fastest pace in years – Mutual funds could sell more stocks than they buy this year for the first time since 2012