Afternoon Coffee: 2015 M&A Announcements Hit Record High, Sysco Names New President and COO

Merger and acquisition announcements reached more than $5 trillion in 2015, setting a new record and beating the $4.6 trillion in M&A announcements seen in 2007, a year before the financial crisis. About $2.5 trillion of the M&A announcements were among U.S.-based businesses.

Sysco Corp. named Tom Bené as its president and chief operating officer, where he will be in charge of the company’s business operations and supply chain. Bené has previously served as Sysco’s chief merchandising officer, chief commercial officer and most recently as president of foodservice operations.

Alibaba is reportedly investing $1.2 billion into the Chinese online food delivery service The investment will give Alibaba a 27.7% stake in

Consumer confidence rose in December to 96.5 compared to the 92.6 in November, according to the Conference Board. The December reading was also higher than analysts were expecting.

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