Goldman Sachs expands consumer business with GreenSky acquisition
The S&P 500 is trading near session highs with a 0.3% gain while the Nasdaq underperforms close to its flat line. In M&A news, Goldman Sachs (GS 399.31, -4.38, -1.1%) has agreed to acquire payments company GreenSky (GSKY 11.83, +4.05, +52.2%) for $12.11 per share, or about $2.2 billion, in stock. The deal represents a 56% premium to GSKY's closing price on Tuesday. Separately, the EIA recently reported a larger-than-expected draw in weekly crude inventories (6.422 million). Crude futures are currently up 3.4% to $72.85/bbl.