valeant hasn't done a big deal in a year. actavis their third big deal. >> all of the deals have worked. they're an amazing acquirer. i have to say if you look at allergan, they have this great franchise, not just botox, and degrowth is they had the highest percentage of r&d of any major company. and i know actavis is anxious to improve on r & d. >> it's a big day. santelli at cme. >> good morning. october read for industrial production comes out one .1. we were looking for up a couple of tenths. last month's very aggressive up 1% was now degraded to up .8. utilizati utilization, 79.3 expected. we arrived 78.9. that 79.3 which was the bef since 2008, lost steam. we lost a little bit of steam from there the market is reflecting this, as the ten-year note is about ready to slip under the 2.30 level. remember, we've had 14 sessions, not days, sessions, where we've been in a very tight range of 2.30, to 2.38. today may be the day we break that range. carl, it's all yours. >> thank you, rick santelli. the press release out from ac

i don't cover valeant. have to talk to my colleague who covers valeant. >> if you're a market cap big enough to get them there. >> you can make a list of companies with $100 billion market capsp. that's easy to do, astrazeneca, pfizer, companies that would meet that market cap definition. he wouldn't have to do it all at once. you could buy two $50 billion or four $25 billion companies. all kinds of, you know, ways to -- all kinds of ways to do that. >> i do think it makes sense to see valeant get involved ins here in the situation like this. i don't know what the synergies are between an animal health company and other holdings. may not be the best fit. pearson has said he's very much a fan of these sorts of deals and i expect to see ackman go through another one of these again. so the fact that those stars could be in alignment is some hint of a possibility. >> before we lose you you raise the question at the very top of this interview about pfizer's potential interest if there is any at all. what's your

but because the expectation was that valeant could only go to $200 or $205. >> valeant's ceo said they were going to be getting great tax benefits out of the deal. >> so the question is, what does ackman get out of this? >> did you just say that the stock is at $213? >> i could be wrong. there could be a higher bid potentially. >> wow. there it is. look at you. always good to be right. well, i don't know. maybe there's more to be had here. i don't know how that can possibly be. >> it's a cash and stock deal, so part of it is stock. we have to figure out how much is stock and how the stocks trade on some of this. >> can we flip it around to see what actavis is trading at real quick? nonetheless, this is one of the -- >> actavis right now i have a bid at 239.90 and yesterday it closed at 243.77. so it depends on where the stock opens as well. >> we will see what happens in this soap opera. it ain't over yet, it sounds like. >>> and in other news, a renewed pfizer bid fors a tra zeneca looking less likely after they signed a major cancer deal with merck. the partnership is likely to reduc

for. >> more potential partners or combination partners say they're not interested in allergan puts valeant in a stronger negotiating position. >> back in april ackman start the bidding with the $350 billion offer, that he fought off vigorously. ackman's final bid topped one from actavis but ended up being no match for the $66 billion deal announced today. >> the offers never came close to the interests of the value of the company. the implied offer was $11 billion give or take away from what actavis is willing to pay for us, and i really feel that this is a fair price. >> so what is actavis buying? growth. sales growth at allergan has often exceeded 10% a year, not the norm for most big pharmaceutical companies. how? for one thing, botox isn't just about wrinkles any more. it's being used to treat migraines, dry eye and even neurological disorders like m.s. it's commitment to fund research and development. >> r&d is one of the greatest combined late stage development port forl folios in the industry. >> analysts say the day will cut allergan's taxes by $300 million. that's because actavis

valeant is flat. >>> and merger talks between the oil services firms have stalled. on friday the initial offer from halliburton was rejected after making a counter offer. reports say the companies have failed to agree on price and other issues on how to address anti-trust concerns. we'll look at shares here to be one of the reasons we saw the energy numbers come up slightly. halliburton is up 1.2%. >>> "shrek" may not be joining the forces with "transformers" after all. the talks between dreamworks and hasbro have fall up apart. dreamworks wants $35 a share. dreamworks is off consistently at 15%. hasbr sorks off 1.%. >> we are seeing the reverse on the gapes last week on the speculation of a deal. another stock in focus, the chairman of the troubled italian bank says there have been no approaches from any other lender over a possible merger. however, alessandro said the options are still on the table. for more on this, claudia is in milan with more on this story. >> reporter: yes, good morningment we are seeing the stock trading higher on these comments that came ou

would i team up with valeant again?t seems a stretch. >> right. >> especially given a lot of tension in their camp and questions on the part of valeant as to whether they were well served having teamed up with mr. ackman. they might have had a better chance of success had they not. >> does it matter how well a company does? look at the performance management's begin you here. is that not enough? remember the old days actavis didn't go? >> that is a great point. we've seen it more often than not they come in where things are going okay if not good, but they make the argument it could be better. that seems to get a lot of traction with investors. it gives them protection on the down side. whether it's a pepsi or a dupont, both well performing stocks, they are not strongly performing as they might have been if they made better decisions. >> there used to be some community if you were the best performing stock in the group by pepsico. it used to be people say i'm not going to go after her. she's done an amazing job. it mean

much higher synergy numbers for valeant than for actavis.ompany that has been active in doing deals itself. huge bids. they have done it. bausch & lomb is a big one. when it comes to ackman, i argue make valeant would have been better off having done it on their own. they would have made the annual meeting, fight for the board right away with their offer. then they wouldn't have wasted all that time with referendum business ackman proposed that got them nowhere. might not have gone to a tender offer which got them a lawsuit in california which may have cost ackman money if they lost this, they may question their initial decision to get in partnership with mr. ackman. >> that is the best exposition i've heard. do allergan shareholders win either way. >> what can actavis pay? >> up to $2.05 and $2.10 and still do well. >> let's get to rick santelli in chicago. >> good morning. the market always has an opinion on every number. it's objective in many ways. we had a good number. over 200,000 again. especially after revisions to a couple of months

it was fighting against valeant for months. two trending companies are joining forces.er and spotify are linking up. they can link it to the uber cards in cities around the globe. riders can be their own deejays on their trips. there are plans to bring the markebring it toall markets. it only works with spotify accounts. >>> george and colleen closed the indian chief tavern. they operated the eatery off of route 70. they sold it to the openers of the shop rite next store. the new owners have not said what they are going to do with the new property. >>> a beautiful skyline tonight. it about to turn bitterly cold and cecily tynan has the accuweather forecast coming up >>> time for accuweather. time for everyone to dig out the toe warmers at this point. >>> bundle up. we are trading off. we are getting rid of the rain. we are bringing in the bitter cold and gusty winds. we have some pocket was steadier rain along the garden state parkway seaside heights and atlantic city. it's moving to the north and east. all of this is clearing out as we head through the evening hours. r

and maybe now if valeant wasn't going to get allergan it would sight on zoetis. people were waiting to hear what he thought of the transaction and what e may do. there is litigation on both sides. my guess is that whole thing is going to go away. but it is good to get clarity at least what he thinks about this deal and, you know, maybe where he's going to put his stock in this combined company in the future and sounds like he plans to be around for a while after this meeting on friday. so that is what we have from here. guys, i will be back tomorrow. don't try any funny stuff. melissa runs a tight ship. no non sense. >> i'm not going to let them get away anything scott. believe you me. scott wapner with exclusive comments from bill ackman. >> coming up the ceo of toyota reveals the plan for a new fuel cell model. can they replicate the prius success? and it's $114 question, alibaba and apple costs just about the same right now. which is the better buy? we've got a debate lined up. but first a deep freeze. how to play the buckets of snow head hag for much of the c

they are speaking out, the and billth valeant ackman.nts to getting the deal done. it is not over. they got to go through the regulators and look at how many additional jobs are going to be cut. they've got to look at merging these two units and what are the big issues ahead. you --s grisantit chris grisanti, you do not own either of these. >> the republican held congress might help if we get a deal on tax. al strikes me as an 11th hour deal. i would be curious to ask did you cross the t's and dot the i's, what was left out. >> all this talk that allergan was shopping itself to sanofi and others. did they feel that they were doing everything to avoid being bought by valeant. >> make sure botox is uninterrupted. a question for chris grisanti. doesyou look at activism, carl icahn get a christmas card from grisanti? >> the treasury department gets a christmas card. card withsend out a the efficient market frontier? >> that would be counterproductive. stopped?his >> allergan also makes breast implants. >> and sea breeze products. one note ab

what happens when valeant wakes up? valeant goingis to try to increase their share?ed today. speaks later on. i just spoke to adam posen. he says mario draghi showed stop blessing.r german >> he's got to get his speech. economists think he will get to where he needs to get to with asset purchases. >> that is it for "the pulse." see you tomorrow. have a great afternoon. ♪ is "bloomberg surveillance." >> vladimir putin is pouting. the october surprise has turned into a november route. the economy unexpectedly fell into a recession in the third quarter. opec prepares to beat, but is it prepared to deal. the price of oil continues to drop. it is now every petro state for itself. good morning. this is "bloomberg surveillance ." this is monday, november 17. i am not tom keene. i am brendan greeley. haveeene and scarlet fu left me to the tender mercies of stephanie ruhle. topet's get you to the headlines. i am not sure if you did all your homework. i'm here to help. let's get started. an unpleasant surprise for the world pot third-largest economy. fell into actedly recessio

. >> valeant shares are slightly up after all of this news.more straight ahead on "in the loop." ♪ >> the yahoo! ceo has a big decision to make, marissa mayer. yahoo! and its advisers have crafted a way to shed is $34 billion alibaba stake in a way that avoids a $15 billion tax. grissom i would oversee a smaller yahoo!. let's look at all marissa mayer has to consider. it is kind of like a high-end problem. join me, bloomberg ipo reporter. what would happen if she just decided, i will take his money and sell it? --this money and show it -- this money and sell it. >> being that it is $34 billion right now given alibaba's market value, you're looking at a $15 billion tax bill. pursue my would have to face investors and say, of that, 15 of it went to the tax man. he pledged publicly she will not do that. >> what would be her option? a spinoff, a cash rich split off would be an option? >> it had -- it is what malone has done. she is joining a high rank of people doing the strategy. the problem with this is that it include ash it requires involvemen

. >> the deal comes after allergan rejected and offer from valeant pharmaceuticals and activist investor bill ackman. the client and auto manufacturing come utilities and mining drag down overall industrial production in the united states last month stop it drop surprising many economists. u.s. manufacturing is seen as key to the world economy, especially with today's news that japan has slipped back into a recession. startup hampton creek is not backing down from unilever, which is suing the start up over its eggless product. claims that the word mayo is misleading. from the ceo.nse >> we never started the dam thing to be an alternative or substitute. we started it to be right there in the honda meant i'll are cookie aisle when we do that with everyone else. we think that's how i did big wins. >> he says hamden creek is signing to countersue unilever. er and spotify strike a deal subscribe too spotify premium will be able or tracks -- play their no comment after taylor swift pulled her content from spotify. now to our lead in the workplace. some companies even block employee access, but

. >> valeant shares up by about half a percent on the trade so far. >> dom thanks so much.nybody have a comment about the herbalife earnings. second straight miss. stock is down big. worst day in five years. >> listen, good interview. you raked him over the coals and there are some credibility questions there. the one question i have though. and maybe you will answer it. these are still earnings. the company still had some growth. in terms of the pyramid scheme and air coming out of a balloon, i'm not sure that is going to happen. i don't want to own the stock. but do you still think this is a pyramid question? >> i'm not going to answer that question. it is not my job. and i don't know. that's for the regulators to figure out. so i'm going to dodge that one. and in terms of raking him over the coals, i just and the questions investors want to know today. that's you will. >> great questions. the one thing i would say is when you are look at the stock right now, scott, normally when you get the event. we got the event. earnings. stock is down. look at what people are still p

in valeant, you have to believe management will also not let themselves fall in feeling a need to do the allergan deal or they only will do it at the appropriate evaluation. and when you look at the growth opportunities i thiy ies i stil there is a big opportunity. >> do you think it happens? >> the way i've set it up is that either way i'll be happy. >> what are you doing now gh your own big picture vu view of things. you are an investor in juice press. on that side of the health food movement and then you own the rights to all of the dunkin' donuts franchises in austin texas, is that right. >> yes thart. >> how does that mix. >> i started out as the hedge fund manager. you kind of hedge your bets and it is quite funny from when the companies do well, they are actually excite complementary. but it was not a purposeful strategy. in reality i pride myself on investing is thinking laterally and the opportunity in dunkin' donuts came from the fact that du dun kin is a great franchise. and in other words the payback might be three years on a store. but if you buy the stock you have to pa

valeant pharmacy up 3%. it's up about 21% over the past six months. >>> let's have a look in on european markets. yesterday we had about 0.75% declines. at the open of today, we are in the gaining 0.75%. we have strengthened throughout the day. mr. draghi's comments from the economy were relatively bearish. once again, he reassured the markets that he stands ready to act if necessary. the ftse 100 up 0.56%. most of the continental european markets are up more than the uk, of course. germany up 1.26%. italy just over 1%. >>> talking to one strategist about this, i'm surprised ta these reassuring comments draghi continues to deliver. the market responds positively despite the improve in economic data. >> absolutely. and i think that is what he's the master of, isn't it? giving reassurance without having to act so far that it would anger the germans or those in the european commission. >> i would say it's overproming and underdelivering on his behalf. the markets seem to like it. u.s. futures are sharply in the

it has taken new stakes in alibaba and valeant.illion shares and rackspace 7 million shares. it eliminated its position in cvs. back to you. >> thanks. when we come back, this is the best bottle of wine in the world according to "wine speck tagtta" we can't tell you what it is yet. ♪ there's confidence... then there's trusting your vehicle maintenance to ford service confidence. our expertise, technology, and high quality parts means your peace of mind. it's no wonder last year we sold over three million tires. and during the big tire event, get up to $140 in mail-in rebates on four select tires. ♪ [annit's working forny. new york state. already 41 companies are investing almost $80 million dollars, and creating 1750 jobs. from long island to all across upstate new york, more businesses are coming to new york. they are paying no property taxes, no corporate taxes, and no sales taxes. and with over 300 locations, and 3.7 million square feet available, there's a place that is is right for your business. see if startup-ny can work for