Dollar General Corp. (DG:US) will replace Cooper Industries Plc in the Standard & Poor’s 500 Index, according to a statement from the index provider.
Dollar General, the largest U.S. dollar-store chain, will be added to the U.S. equity benchmark after the close of trading on Nov. 30, the statement said. Cooper Industries, a maker of electric-distribution equipment, is being purchased by Eaton Corp. (ETN:US) in a deal that may be completed around that time, S&P said.
The revisions in the S&P 500 may prompt money managers that track the index to shift holdings to match the adjustments.
Dollar General shares rose 3.4 percent to $51 as of 5:36 p.m. New York time.
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