(CNBC) — U.S. equities hit record highs on Monday as sentiment on Wall Street was lifted by news of corporate dealmaking.

The Dow Jones industrial average rose 10 points to an all-time high, while the Nasdaq composite gained 0.3 percent on its way to a record. The S&P 500 also managed a record high and closed 0.13 percent higher.

Broadcom offered to buy fellow chip maker Qualcomm for $103 billion. If completed, the deal would be the biggest in the history of the tech sector. Reports of a potential bid first surfaced on Friday.

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