Wall Street declines despite buyout news

Wall Street declined on Monday despite several buyout news.

TXU Corp., Texas' largest power company, said on Monday it has agreed to be sold to a group of private-equity firms for about 32 billion U.S. dollars.

Kohlberg Kravis Roberts & Co. and Texas Pacific Group led a group financial companies will also assume about 13 billion dollars in debt.

Meanwhile, Station Casinos Inc., agreed to be bought by a private equity firm started by the company's founding family.

However, the buyout news were unable to stop markets from a three-day-slide.

The Dow Jones industrial average fell 15.22, or 0.12 percent, to 12,632.26. The Standard & Poor's 500 index was down 1.82, or 0. 13 percent, at 1,449.37, and the Nasdaq composite index fell 10.58, or 0.42 percent, to 2,504.52.

Source: Xinhua