* GE to buy British oilfield services company for $1.3 bln
* Beijing's move to cool inflation excludes rate rise
* Futures up: S&P 5.1 pts, Dow 36 pts, Nasdaq 8 pts
(Updates prices, changes quote)
By Angela Moon
NEW YORK, Dec 13 (Reuters) - U.S. stocks were set for a higher open on Monday as several merger deals boosted investors' confidence in equities.
General Electric Co said it will buy British oilfield services company Wellstream Holdings Plc for about 800 million pounds ($1.3 billion) to expand its subsea equipment and services portfolio. GE shares were up 0.5 percent at $17.80 in premarket trade.
Dell Inc will acquire Compellent Technologies Inc. Dell shares slipped 1 percent to $13.75 and Compellent shares slipped 2.6 percent to $27.97 in premarket trade.
In China, the central bank raised lenders' requirements instead of benchmark interest rates over the weekend, easing concerns that tightening its monetary policy could lead to a slowdown in one of the major growth engines of the global economy.
"Some have been arguing that the market is tired after such a strong rally and is due for a pullback, but the relief factor from China, although temporary, and a flurry of M&A this morning is all pointing to a further rally," said Peter Cardillo, chief market economist at Avalon Partners in New York.
S&P 500 futures rose 5.1 points and were slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 36 points, while Nasdaq 100 futures added 8 points.
Data over the weekend showed China's industrial output topped expectations and inflation rose to a 28-month high in November.
The Democratic-led U.S. Congress moved on Monday toward grudging approval of President Barack Obama's deal with Republicans to extend expiring tax cuts, even for the wealthiest Americans. Backers were expected to muster on Monday the needed 60 votes in the 100-member Senate to clear a procedural hurdle, before passage on Tuesday or Wednesday. who branded it a giveaway to the rich.
The Financial Times reported that European officials are considering plans to overhaul the euro zone's 440 billion euro rescue fund and use it to buy bonds of distressed governments, making it easier to help debt-swamped countries without resorting to fully-fledged bailouts.
Genzyme Corp will be in focus after Sanofi-Aventis extended its $18.5 billion cash offer until Jan. 21 and may prolong it, a sign the French drugmaker is prepared for a long battle.
Grocery store chain Great Atlantic & Pacific Tea Co filed for bankruptcy protection as it struggled with a cash drain and a sluggish economic recovery.
Private equity firm Carlyle Group's chief financial officer resigned, possibly delaying an initial public offering, the Financial Times reported, citing sources.
U.S. stocks ended higher on Friday, with the S&P 500 at its highest level since Lehman Brothers collapsed in 2008, and breaching technical levels that suggest the year-end rally will persist. The Dow posted two consecutive week of gains.