Year-to-date, the Materials Select Sector SPDR (NYSE: XLB) is down 7.8 percent, good for the second-worst among the nine legacy sector SPDR exchange traded funds, but XLB and rival materials ETFs could be in for some near-term relief on the back of major mergers and acquisitions news.
After the close of U.S. markets Tuesday, the Wall Street Journal reported DuPont Co. (NYSE: DD) and rival Dow Chemical Co. (NYSE: DOW) are in merger talks described as "advanced."
DuPont and Dow Chemical are XLB's largest and second-largest holdings, respectively, combining for 23.4 percent of the $2.11 billion ...
/www.benzinga.com/trading-ideas/long-ideas/15/12/6032089/merger-mania-for-materials-etfs alt=Merger Mania For Materials ETFs>Full story available on Benzinga.com
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