Over $37 billion in deals were just announced in a massive 'Merger Monday'

In a four-day week for markets and the economy, Monday started with a bang as a classic “Merger Monday” broke out as over $37 billion in deals were announced in the last 24 hours.

Mondays are typically the biggest days for mergers with lawyers and bankers hammering out the details over the weekend before a Monday — or, in some cases, Sunday — announcement.

This week started on Sunday as paint giant Sherwin-Williams announced a deal to acquire coatings company Valspar for $113 per share. The deal’s total value is worth around $11.3 billion.

The all-cash deal will give the combined company about $15 billion in annual revenue and 58,000 total employees.

Of course, some of these employees should be wary: the deal also contains about $280 million in annual synergies — which is corporate short-hand for excess processes, costs, and workers that the two companies will have.

Said another way, as is the case with most all mergers, layoffs are coming.

In pre-market trading on Monday shares of Valspar were up about 28%. Sherwin-Williams shares were little changed.

On Monday, UK financial data giant Markit announced a deal to combine with US rival IHS in a $13 billion deal. The combined company will be headquartered in London and would have had annual revenue of around $3.3 billion in 2015.

The latest chapter in the long-running Marriott-Starwood merger also crossed the tape Monday morning with Marriott announcing an increased offer to acquire Starwood, topping the $13 billion offer made by Chinese insurance giant Anbang last week.

Marriott’s latest offer values Starwood at $79.53 per share and creates a total deal value of around $13.6 billion.

The Marriott-Starwood deal, which was first announced last November, would create the largest hotel company in the world.

As for synergies, Marriott said in a statement on Monday is estimate about $250 million are available in a potential deal with Starwood, up from an estimate of $200 million last year.

Marriott shares were down about 0.5% in pre-market trade while shares of Starwood were up about 4.3%.

NOW WATCH: This 7-minute fitness routine is all you need to get in shape

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.