Markets were lower in Europe on the session Monday.
The FTSE Eurofirst 300 was 0.3 percent lower to 1,580.11.
In Paris, the CAC-40 dropped 0.24 percent to 5,829.4, while the Dax was down 0.35 percent to 7,974.37.
Madrid’s IBEX fell 0.56 percent to 14,809.
Software company SAP (FWB: SAP; NYSE: SAP) dropped 4.04 percent to €39.83 after it said it would pay €4.9 billion for rival Business Objects (Euronext: BOB; NAS: BOBJ), which gained 17 percent to €41.07.
On the other hand, Alstom (Euronext: ALO) was the biggest gainer on the CAC-40, adding 2.39 percent to €152.77 on the news that builder Bouygues (Euronext: EN) had raised its stake in the manufacturer and power generator, spurring speculation that a takeover is in the works.
Banks were mixed.
While Dexia (Euronext: DEXB) added 0.53 percent to €22.79, BNP Paribas (Euronext: BNP; TYO: 8665) was down 0.74 percent to €81.80 and Credit Agricole (Euronext: ACA) dropped 1.18 percent to €28.42.
Utilities were mixed as well, with EDF (Euronext: EEN) 0.65 percent higher to €74.56 but Suez (Euronext: SZE; NYSE: SZE) falling 0.72 percent to €41.41.
Volkswagen (FWB: VOW; OTC: VLKAY) had the best day on the Dax as it added 1.94 percent to €171.45.
Elsewhere in the sector, Peugeot (Euronext: UG; OTC: PEUGY) was up 0.37 percent to €60.16.
The biggest decliner on the Dax was financial planners MLP (FWB: MLP), which dropped 4.36 percent to €10.95, while Air France (Euronext AF; NYSE: AKH) had the worst day on the CAC-40 as it fell 2.98 percent to €28.29.