allergan once again rejecting valeant.any significantly increased you may recall the cash component of its latest bid for allergan. it now being.83 shares and $72 a share in cash. allergan coming out with language saying there's a look at the actual -- and the cdr, don't forget it. still talking 44% of ownership in the combined company given what is still a great deal of stock in the overall consideration as i said, cash has come up considerably. for its part this morning, allergan yet again rejects much of it being the same language that was used the last time. a slide presentation. accompanying the rejection this morning with various points being made by allergan that more or less say we don't believe that this in any way, shape, or form fully values the opportunity that we have ahead of nous terms of creating shareholder value. they point out that analysts have raised their price targets to an average of $179 a share on what they call a standalone basis. that may be a bit of a species claim given analysts typically ratc

want the whole wide world to read i'm talking to you morgan stanley now the mudslinging between allergan and valley and pharmaceutical got more intense this week but it was actually backers of morgan stanley who wound up in the crosshairs true story allergan released in mails sent by a senior morgan stanley banker which outwardly denigrated valiant in its business strategy now allergan the maker of botox is currently fending off a fifty three billion dollars takeover bid by valley and the man behind the lead e-mails is david horner a senior healthcare banker at morgan stanley now on may eighteenth horn sent an e-mail to allergens chief financial officer jeff edwards saying that his firm morgan stanley would help persuade shareholders and the media that valiant is quote a house of cards. now the big conflict of interest in all of this is that morgan stanley is currently working for valiant's. that awkward but not only is the position awkward it's also unusual mainly because most companies don't publicize such private communications however the row between allergan and delhi into being so

so we shall see what it is that allergan can actually do.evering transaction for valeant. the idea that allergan to colever up its balance sheet more could be a deterrent though not completely a deterrent. jim, valeant needs to get its stock price in the right direction, which is up. typically the stock price would move higher but allergan itself has attacked them wholeheartedly now full-throatedly so so-to-speak and it's hard to imagine, though we have seen it in the past them turning around and saying okay, when 44% of the consideration that you're getting as an allergan holder is going to be in valeant stock, where you own 44% of the combination, excuse know. >> i've seen behind the scenes and we all have our sources, it's not like they're coming out and saying please go on tv and say this, i'm getting pushback from real top ceos saying this is an outrage, that david pyatt built a great company and imvented new drugs and done great things. i have never seen a pushback before from prominent ceos saying when are you going to stand up and sa

clearly allergan did. >> did you see this?ble. >> they have none of her e-mails. for real? >> okay. >> coinkydink there. >> hold on it gets better. part of what he is suggesting to allergan is to allow him to use his relationship with the media and analysts to provide a clear and detailed articulation of why valiant is a house of cards, and your investors should not want to take their stock. >> fabulous. >> and so effectively what's happening here is he's trying to get -- >> he's trying to get the business. >> he can have the business, he was trying to get -- oh, i just wish he was here. this is just -- >> you know what this means, next time you're going to be saying recently he told david faber because he's certainly not going to come back on this show after this. >> okay. >> well we will endeavor -- i'm going to call rob right now. get him on the line. maybe we can even have him call into the show. >> he got hired by the other company. >> i understand that. but he should have something to say in this particular instance. >>

he bought allergan. short valiant. he makes money.aying if this goes through valeant is worth a lot more money. >> what was the other point you needed to address? >> i want to make sure i address each of them. 85% of its business is this sort of durable pharmaceutical business. otc. products that you don't need to spend a lot of money on r&d to continue. 15% looks like a typical pharmaceutical company. they brought products with a patent life of three, four, five years. pierson likes so-called tail products. products that other pharmaceutical products are selling. you can buy them very, very cheaply. if you look on a consolidated basis, they had flat organic growth. if you look the way we do, which is the right way, look at 85% of the business that's a growth part of the business, it grows 7%, 8% per annum without huge investment in r&d. when the drugs go off patent, it goes to zero. you would never value a company -- if you have 85% growing at 10% and 15% shrinking at 30%, you don't put a multiple based on consolidated revenues. you

want the whole wide world to read i'm talking to you morgan stanley now the mudslinging between allergan and valley and pharmaceutical got more intense this week but it was actually bankers at morgan stanley who wound up in the crosshairs true story now allergan released e-mails sent by a senior morgan stanley banker which outwardly denigrated valiant in its business strategy now allergan the maker of botox is currently fending off a fifty three billion dollars takeover bid by valley and the man behind the lead e-mails is david horner a senior healthcare banker morgan stanley now on it may eighteenth horn sent an e-mail to allergens chief financial officer jeff edwards saying that his firm morgan stanley would help persuade shareholders and the media that belly. it is quote a house of cards. now the big conflict of interest in all of this is that morgan stanley is currently working for valiant. but awkward but not only is the position awkward it's also unusual mainly because most companies don't publicize such private communications however the road between allergan and delhi into being

valeant pharmaceuticals recently upped its offer to buy botox maker allergan for $52 billion or just about $181 per share. allergan is said to be urging investors to hold off on vote regarding board members until it reviews valeants latest bid. activist investor bill ackman is pushing for the merger and for the removal of 6 of 9 of allergan's board directors. americans are kicking into higher gear when it comes to buying cars on credit. auto buyers borrowed a record amount in the first quarter... and took on all-time high monthly payments --averaging $474 dollars. an experian automotive report also shows because of those higher sticker prices, drivers are spreading payments out over a longer period of time. 24.8% of new car loans now last between six and seven years. american's are supersizing their houses. according to the census bureau-- the average home built last year was 26,000 square feet. the highest square footage even before the housing crisis. 44% of homes now have at lest 4 bedrooms. the roomier homes come with a larger price tag. the average price for a new single family

allergan has not accepted this but gets counted in the tables.huge deals so far are in media. it goes to joe's view about content. the larger one is at&t offering to acquire directv for $47 billion. would create the second largest telecom company. it needs approval from regulators. in close third for a deal by value is comcast to buy time warner cable for $44 million. comcast the parent company of this network. in that deal goes through it would be the largest. that is a short way of describing for a long way of getting to our guest this morning. joining us to talk about this is director of deals intelligence. he is very intelligent on what is actually happening here. >> good morning. >> for the last three or four years, you would come on. we would talk about how we thought there would be more deals. cash on the balance sheet. interest rates are low. the environment seems right. and there wouldn't be more deals. >> right. >> and then something happened. >> right. >> what was that? >> a resurgence of deal making this year. we are finally seeing th

that is one of the key issues here, of course, when we talk about valeant and allergan.'s playbook being led by its ceo mike gerston saying r&d most of the money spent by big pharma is wasted. he saw this up close and when he got the opportunity to run a company like this his key focus is not necessarily stifling innovation but making sure innovation occurs well above the cost of capital to bring that innovation to bear. this morning valeant releases a report called its perspectives on r&d. why? of course as you know, allergan in its rejection of valeant's bid, cites its playbook, its complete cutting of r&d costs as a real negative and what it feels will ultimately be something that will cause a loss of value if it were actually to be acquired by valeant. as you might imagine, valeant disagrees. the points are larger points for the industry, which top ten companies spend about $68.5 billion in r&d right now. valeant will point out that is leveling out. that we're starting to see a leveling out as people start to question this as investors do, but that many of these comp

a big transaction with valeant and allergan.s one that's consolidated and i don't think that pfizer/astrazeneca is likely that the last chapter has been written on that one either. >> to be continued. thanks for joining us on the deal. barbara ryan, a managing director at fti consulting. david, you're focused on where the next deal's going to come from. >> interesting listening to barbara. i did want to point out, medtronic shares turned down. there is some question whether the accretion is going to be quite as much and as quick as perhaps had been hoped when it was read in the press release as opposed to discussed on the conference call. and i also wanted to note, our other big deal if ecan bring it it up, level 3, lvlt, that has turned sharply lower, not sure why at this point. one of the things typical in this robust environment for mergers and acquisitions the stock of acquiring company has gone up. that has dramatically moved lower at level 3, one of the bigger deal, the acquisition of time warner telecom, wanted to note bo

valeant pharamaceuticals plumps up its offer for botox maker allergan from 49 billion to 55 billion... allergan shares shot up 6%, the ftc rules men's wearhouse and joseph a bank are suited for their proposed merger. a new low cost airline people express is ready for takeoff with service that begins this month. trader: scott shellady, ceo of bull reef brokerage, tjm investments is here to tell us what is on his plate, good morning scott. good morning. is the stock market going to be doomed in june? you will probably have some pundits calling for that and that is sell in may and go away or sell in the summer and go away, so far it has not done you very well. both the bond market rallied and the stock market is rallied and i think because there's nowhere else to put the cash right now and the state of the economy, you will see both of those levitate all summer long. we had a big jobs reveal happening at the end of week, what do you anticipate? i think expectations are round you'll to hundreds. we need to start printing something higher than that 250 to 300 to really get our foot on the

unless extended, shares down slightly with 118.43 and allergan rose. shares of conagra tumbled. the maker of hunts tomato ketchup says it will lower sales and weak profits in private brands group. the stock was down more than 7%, it closed at $30.47 and hertz might be looking to team up with uber. the car rental company wants to broaden its business and could allow its cars to be rented using uber. a controversial startup with a smart phone application. the buzz drove shares of hertz up almost 5% to $28.33. >>> some of citi groups biggest investors want the bank to go to court rather than pay as much as $10 billion to settle an investigati investigation accordtology a report in the financial times. it is facing charges that it cheated investors by selling risky mortgage backed securities. citi shares up a fraction. shares of air products and chemicals surged after the company named a new ceo. the industrial gas producer is activist investor bill ackman is holding the ceo to take the top job. the stock closed at an all-time high up 7.5% to $130.72. >>> shares of amazon.com moved

allergan up just a little bit.eacting today to this going directly to shareholders. >> thank you for that. we should keep an eye on how they structure that with bill ackman giving some of the issues want to do an exchange offer gets a little more complicatcom. a newly coined cnbc disruptor 50 aereo looking to change the immediate yo landscape and it's upsetting and more than a couple of people. a few apples in the process. we're going to talk to its ceo next the supreme court taking a look at that too. and then, you love speed and have your own high end wheels but where do you keep the car? the story of a very special racetrack with special homes just for vehicles. the kicker, these are million dollar homes. for cars. we've got that story when we come back. >>> today cnbc disruptor 50. see why space-x has rocketed to the top spot. elon musk on the future of space travel and the struggle to make it so. closing bell 4:00 eastern, cnbc. >>> welcome back to "squawk box." continuing our disruptor 50 series unveiling ano

allergan could buy shire.le offer for allergan consisting of $72 share in cash and 8/10 in value. expiring on the 15th. overall, the nice move for at least one soap opera that could be developing according to analysts osier at suntrust. back to you. >> a new chapter. thank you, dom. >>> coming up, the gridiron, digital currency behind college football and plus all of you watching, i don't chance to be part of "squawk alley." >> announcer: got all the answers. now you can make your voice count, on cnbc live. go to cnbc.com/vote right now. let us know what side you're on, at cnbc.com/vote. ♪ ♪ ♪ great rates for great rides. geico motorcycle, see how much you could save. they challenge us. they take us to worlds full of heroes and titans. for respawn, building the best interactive entertainment begins with the cloud. this is "titanfall." the first multiplayer game for xbox one built and run on microsoft azure. letting gamers around the world interact in ways they never thought possible. this cloud turns data into

mainly because most companies don't publicize such private communications however the road between allergan and delhi into being so heated it's clear that allergen is ready and willing to use all tools at its disposal now according to the wall street journal allergen the company behind the massively popular anti-wrinkle treatment botox like i mentioned before released the contents of the e-mails as part of a larger package of documents which it used to show why shareholders should reject valiance offer and while wall street is no stranger to the use of tough tactics to win deals senior investment bankers such as horn should know better even warns boss robert robert kindler had some thoughts on the subject of valley and saying quote my takeaway is that allergen is not being nearly aggressive enough and going after the valiant business model and currency the valiant allergan deal would be among one of the year's biggest and would no doubt yield a windfall of feeds for the bankers involved many in the business of m. and a would argue that morgan only did what any good bank would do in order to

is valeant -- is allergan in there? >> allergan probably is in there.d they locked in -- they did it on a friday. >> that's a mark-to-market? >> this new announcement happened on a friday, friday night, i believe, partially, to lock it in for the month. >> to market-to-market. is part of that allergan? part of that probably is allergan. >> i assume he wasn't doing great on herbalife. >> you can get good performance month after month if you team up? he can beat his peers. >> that is, i believe, true. as you know, i have a problem with this. >> i'm baiting you. >> he would say in fairness, it is possible allergan doesn't accept the deal. >> let's say you're trying to rack up the numbers. if somebody is going to make an acquisition before they announce it. he'll look like a genius. he wrote a book, market madness. it was all about how to pick takeover stocks. he was sitting there with that suitcase full of money finding out. >> as long as you sign a contract, that's fine. if you're walters or mickelson, you get an investigation. >> phil didn't do that. i c

not to worry about the patents on one of allergan's important drugs. he made it clear that the company was dramatically undervalued at that moment, even mo the analysts were saying it would a challenged growth path. despite the stock is now up 89%. from that interview last august. commodity? soy? wheat? chaff? i know that the intellectuals will say they're all one off and that i don't understand that stocks are an asset class to be trade traded where's my throwback stock jersey to before 1984, when the futures creators came up with the idea of lumping all stocks together. how ironic that winter wheat had been the chief crop before the crop got bundled together. some may think i'm quaint, but i believe in pointing out that there are differences among companies, and therefore their stocks, and the homework is validated. we've seen so many -- and i that long term stocks are nothing like commodities and probably on the long term undervalued. here's the bottom line -- every one of these deals -- analysis that we moranically accept as gospel. yet the weight

. >>> allergan. >> the walls are closing in on allergan. it's a question of price. >> intercept pharmaceuticals, a drop the move 7%. guy. >> this stock is not for the faintest of heart. we talking about a 450 hand him on it a couple weeks ago. there will be a level to buy this stock. up that huge move in i want to say it was late january into early march, but it's not right here, folks. >> got a pop for zulily. >> today, goldman sacks ups to a boy today this is the type that once it gets momentum could deep going, i'd let it ride. >> we want to do a walk down memory lane. two weeks ago, dan and guy performed a touching duet during "fast money's" annual karaoke night. check it out. [ music playing ] >> now, you guys out there might be wondering, what the heck are they singing? the song is called "breaking up is hard to do." and it's supposed to sound like this. [ music playing ] ♪ breaking up is hard to do ♪ ♪. >> maybe our only karaoke fight. >> that's not right. first of all, that's the intro to neil se dhaka's song -- sedaka's song. we we

. >>> let's talk about allergan. in due time. you can see allergan trading.k over to you. >> thank you very much, dom. they fire he was chief economist at yahoo. amazon is facing back lash to a publisher. james patterson has called amazon's control of the book business a, quote, national tragedy. separately the company's content deal with mattel also drawing some criticism. the partnership could create a new model for pairing television shows with related merchandise. there's a lot of related merchandise in my home, carl. i know there probably is in yours as well. i'd love to be -- one on search, as we mentioned, yosemite, the new operating system will be powered by binge, a microsoft product, and not basically a de-googlization of that function. and i cloud drive will syncios, os and windows. it seems like they're putting some distance between them and google and getting coursesier with microsoft. >> i think that's absolutely. important. reasonably popular. if they want to, but this threats puts microsoft in pole position. with an important demographic. boy,

valeant. 2% of allergan makes him a top 15 investor.kerman has made more than a $53 billion bid for allergan and is calling for a special meeting with hopes of replacing igac1uuus>jcv5 richard durbin i walgreen won't relocate its home base to illinois. durbin tells reuters a tax envision deal would damage the uniquely american company and he plan toes introduce legislation today addressing the deals. >>> and facebook t latest major tech company to release that. the numbers are much in line with many of its rivals. than just 7% black or hispanic. 30% are women. only 15% of those serve in the company's tech positions. facebook says it's working to fix its diversity problem, including hiring more underrepresented groups. >>> still to come on the program, google, why didn't they search? the u.s. giant unveils more ways to be involved in your life. we'll have a look at where they are. ♪ ♪ over 1.2 billion eyeballs are on us during the two weeks at wimbledon. true tennis fans want to know what's happening. they don't want to just see what's h

. >> allergan has dropped today down 3%.. >> drop in the spread, allergan is sort of presenting tear case of what their fantastic stand alone strategy is. i think it's all postureing. i think we see a deal here. >> we got a pop for true car up 11% on news the auto site will join the russell 23,000 and 3,000. it's up 50% since the ipo in may. let's bring in the president jonl krajicek. john, great to have you here with us. >> great to be here. >> i have to ask you this, you said to our segment producer prior to the latest news of the latest recalls that you have not seen evidence that consumers were concerned about any of the recalls to date. does a pick change in your view now there is what 8.5 million additional recalls recalled? >> certainly, there is new news today, it was astonishing news in the scope and the scale of the announcement. gm asked to be stopped for 30 minutes. it happens in situation loose thick at times? but the reality is a lot of these cars are really old cars that go back quite a ways, many of them are

making an offer for the allergan.s. >> going hostile now in its it to take over allergan. escape -- anly an exchange offer, going right to shareholders to appeal for a takeover. stockholders will be able to and .83 for $72 in cash of common shares. that is how the structure would wind up working. valiant teamed up with a square management activist venture, which owns more than 10%. valiant going one step further and trying to appeal directly to shareholders. >> thank you. we will watch how shares react to this very shares will be reacting to the fed meeting as well. it racked up two days when it meets forecast. analyst will continue to trim and will keep interest rates steady. in one test from washington covering the meeting. first off, how will the news conference the approached this time? >> i would imagine with record -- caution. care about the forecast in isolation. a lot of noise. janet yellen and the staff will try to distance themselves. is, why have it at all if it does not matter? what matters to me is the po

directv and allergan. allergan is not really happening 100% just yet. valley i can't wants it.ought by facebook. these are names billions and billions of dollars. at least the shareholders are richer. we want to spin it forward. do you feel the panic to acquire and merge is still continuing and if so what area? >> yes, i think it can continue definitely. like i said, rates are going up eventually. the place thaw look for to put the money to work are companies with consistent cash flows and that don't have a lot of debt on their balance sheets f you're going to buy out something you need a strong balance sheet because you're going to leverage it. you need to make the interest paints. so you have to find something that will be consistent of the production. liz: get to some of your picks. we'll put them up on the screen. first one is rpx corp. do they do much? they're in the patent world. that is certainly in the news. why would they be a takeover target? >> like mutual fund, they're one of the good guys out there. they bought a portfolio of patents and they have large tech compan

. >>> and meanwhile, botox maker allergan rejected the latest offer from valeant pharmaceuticals.the company said that the $53 billion bid significantly underbid the prospects for growth and creates risks for shareholders. shares fell at 163, and valeant at 123.55. >>> metlife announced the first share back program since 2008. the nation's largest life insurer's buy, shares rose to 55 and change. >>> and shares of green mountain rose on news that the company is teaming up with subway. the company's single serve coffee brewers will be available at subway locations. the stock was up 1% to 115.38 there's. >>> well, advances in technology has changed just about everything we do, including the way banks and other financial firms keep your money and investments safe. and some of the latest tech advances were on display on today's start at the financial conference in new york city. >> reporter: the exponential financial conference gathered some of the leading thinkers in disruptive technologies, 3-d printing, artificial intelligence, genomics, and robotics. the message? big change is com

allergan maybe undervalued. >> an update on r&d prospects. >> allergan's one the best performing stocks of the first half, it's undervalued? >> they want you to set the floor higher in terms where the value is based on a stronger pipeline now with the latest release. by the way 10:30 a.m., conference call on that. >> when allergan was at 80 bucks, the ceo came on "mad money" and said everybody's forgetting one drug for glaucoma. no one's thinking about what we can do. there was a patent issue they had a problem with. he came on the show, a quiet, mild-mannered man, he said my stock is too cheap. you know what? it's doubled. maybe it was too cheap. >> well, maybe valeant recognized that. >> hand it to them, they obviously didn't -- they picked a company that had r&d. >> more to go in that long-running battle. >> look what's happened since 9:00, sense i got back from prague. >> true. >> it's not me. i traced this thing down. this happened on thursday when i was in budapest. >> i like the way you say budapest. >> they tell you to do that. >> budapest. >> all right. >> they got this drier b

bitter pharmaceutical pill today we'll tell you about the latest hostilities in the hostile valiant allergan takeover and edward harrison is on vacation this week but our chief political correspondent mr sam sachs is sitting in for him today in today's big deal sam and i are talking about the rise of the servant economy that's all coming up so stay tuned. all right and that does it for now i'm an english hand thanks for watching it if you want to check out more of what we just cover today go to youtube dot com forward slash r t america. well if you're. the face i think you. should have you with us here on our t.v. today i roll researcher.

to takeover allergan that is what he was saying earlier.his morning starting off with tyson foods submitting a binding offer to acquire hillshire for $63 a share in cash. valuing the company the maker of jimmy dean sausage for $7.7 billion. the offer contingent on the company to buy pinnacle foods. i'm expecting that will take place. in the meantime pilgrim's pride stayed at $55. what happened here? >> they go to seal bids and you end up paying more than they should have. what has surprised people not the least of whom are at least $1 billion more than they are able to pay. $300 million. they put a deck out and have been asked a lot of questions on the call. let's assume it is $300 million, to $200 million you are paying for the premium you paid above the huge premium that pilgrim's pride was willing to pay. this is not a great company. it was a cast off company. so they split it up. maybe attracting buyebuyers. it would be amazing to get there within five years. we come in today for 61. i have oscar meyer valued at $41 billion trades north

wasnd allergan's case, it creative.g that aggressive approach in partnering with the suitor. >> in terms of big lumpy opportunities, you say there are not as big moments right now but it seems like every private equity guy we speak to them every distressed guy saying, this is the moment in europe but it doesn't seem like it is happened yet. >> i think people were way too early to the opportunity in europe. so much money was raised post crisis on the thought banks were going to be forced to sell inventory. it really hasn't developed as quickly as it should. we are seeing kind of the publicly traded corporate market start to accelerate their. issuance this year and last or about even. last year was dominated by the financials. this year we have way more diversified set of issuers, which is great. in terms of the credit opportunity in europe, you're better off going with the 10,000 pound gorillas because the key is getting access to those deals. i think it to be able to take down a billion dollars of a clip to do that. >>

being nearly aggressive enough and going after the valiant business model and currency the valiant allergan deal would be among one of the year's biggest and would no doubt yield a windfall of feeds for the bankers involved many in the business of m. and a would argue that morgan only did what any good bank would do in order to get the job done and furthermore morgan stanley isn't the only bank on the block to pay those sides of a deal in order to get one side to get something else it all happens at one point or another this is just basics to the m. and a business and this basically is par for the course in the world of hostile wall street takeovers don't forget these bankers are pretty much financial mercenaries hired to get the job done bottom line it's a dirty business but someone's got to do it. with. the kids should you have them when and how many and what effect will they have on your professional life now this is a conversation that definitely concerns women in the workplace but the economic considerations of fatherhood also influence men as well bryan caplan a professor of economics

do you think -- this is the piece i wrote in the "times" about valeant and allergan, do you think thatnsaction to say no we'll never merge with you or part of a negotiating dance for a higher prices. >> i think it's a negotiating dance. it's probably a foregone conclusion. it's look, i just kind of feel i wish that companies that don't have a great reputation about r&d wouldn't go after companies that do have a great reputation because i want drug companies to solve problems, not to be sales forces. >> right. >> how do you play the hillshire situation this morning? >> you got to stay long hillshire. obviously this is a company that is a proprietary company that are to commodity players. they want more aisles in the supermarket. i got to tell you, where does this leave pinnacle? pinnacle was the way hillshire was supposed to get away from being meat that was not natural and organic. pinnacle has bird's eye, but hile shire is amazing. this company was 32 bucks a couple weeks ago. >> the bed and breakfast links or patties? >> we do -- when we're in a jam, we go to summit diner for our bac

allergan stands out to me going back before when all of the bidding war started. >> i agree. >> i thinksomething the public says -- >> i think they have a lot of momentum on their side in terms of bagging some sorts of big elephants out there and they're going to continue to try to do that. that's not an indication to me what i think is right and wrong. i do think they have the biggest head they can put on the stake. >> delta is up. moderately positive. i think earnings are going to be good tomorrow. someone asked on twitter, i like apple more than delta. >> pop for teva. tim. >> some people think they're preparing for something themselves. to me, this is the best way to play markets health care and this is a name i would stay in despite the people worry about their ms growths. >> a drop for ttwo. down 5%. >> when you start looking at the revenues. a large short interest in the stock. the stock starts to sell off. now they're giving some of that back. >> big drop for servicenow down 4%. >> they're presenting in a conference on june 4th. maybe that's the day you get the flush. valuation

allergan. we talked about this the other day. it came in a lot which means the spread is narrowing.the cdr. i would put that spread on. >> a few things. >> well, we only have 30 seconds. >> happy birthday to steven grasso. >> yes, happy birthday. >> he doesn't look a day -- >> over 60. >> anyway. >> tesla. >> not tesla. pete and i don't see each other that often. he said cnq. this stock looks like it wants to trade back up >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it. mad money starts now! >> hey, i'm kramer, welcome to "mad money," welcome to cramerica. another people want to make friends, i'm trying to save you money. my job is not only to entertain you, but to make you money. call me or tweet me @jim cramer. the market surmises sun

allegations -- now, earlier pershing square asked the court to called for a meeting to remove host of allergan'soard wouldn't -- trading down just 0.6 of a%. . i'm going to send it back to ron -- or sue, who probably knows the correction pronunciation. >>> i think you're right either way. ron insanta writing a piece, to combat all the instable in the oil markets that stems from the opecs company. ron penned the note, if combined, the resource could easily change the dynamics, and in the geopolitical sphere as well. ron joins us now on the set. it's a novel and great idea. you just wonder whether or not this particular situation in iraq might just be the trigger that makes those discussions begin. >> goldman sachs held a north american summit this week, so you have a white shoe firm running the summit, but you don't have the white house leading one. that disturbed me to the extent -- this goes back 40 years we've not had a contingent policy since the embargo 40 years ago, so it does mant sense. i don't understand why president obama doesn't invite steven harper, and president nieto up here to fig

wells fargo, halliburton, estay lauder, moulsen coors, and allergan. wells? what's happened in terms of when you compare jpmorgan versus wells fargo. great story. you have to wonder, does the price of wells go over the price of j.p. morsen? >> they are more tied to housing, and if rates rise you could dough a pause in housing and mortgage activity. >> i think molson coors is really exciting. it hadn't seen these prices until you go back to like may of 2008 before the crisis. you know, we were told there would be huge synergies from the merger. the stock was range bound, now it's finally breaking out. i see no reason why this thing couldn't continue higher. i like it a hot. >> what about halliburton? >> i like hall burter, i'm in shall limber jay or baker hughes. >> why those over hall burger? >> smaller, more nimble, but halliburton is having a strong bay. >>> doc, you flew all the way in for us today. >> epi, the india epf. i bought it again. >> national -- >> john deere. >> suntrust. >>> power begins now. thank you very much. >>> and the apple worldwide dev

acmax have settled a legal dispute related to a shoulders rights plan or poison pill put in place by allergan. they have agreed that pershing square's attempt will not trigger that so-called poison pill. that would allow existing shareholders to buy stock at a deep le discounted price. pershing holds slightly less than that amount right now, so at least one development in the ongoing saga. bag over to you. >>> hailed on the show, goldman sachs is ute with a list of tech stocks that it says is best positioned for what they call the internet of all things. apple and google didn't make the goldman cut. we'll tell you why not, and the under the radar stocks that did. >>> check out the views. just the views from this incent penthouse in new york valued at $118 million. we will take you for an exclusive grand tour, next. >>>. >>> being news, hewlett-packard and its shareholders have reportedly settled a lawsuit over the autonomy software acquisition. the deal is said to drop all claims against meg whitman and board members while it consolidates efforts to hold account and they have spiked in terms

the question what is allergan will choose to do.> post during to get a higher price by david piatt or find a higher buyer. >> the way that they've attacked valeant its underlying business strategy and stock price and raised real questions about that currency, given that it is still the bulk of what you're going to get, .83 shares and 72 in cash and potential cdr for this, it's hard for me to imagine they could go back on that, though i have seen it before. >> where? >> that's a good question. i mean nasty fights where, you know, they end up sort of saying okay, but -- >> air products. >> it's hard. >> but pennsylvania is -- >> they didn't go after the currency in the same way. >> no. i think what bothers me here is they have to do another deal after this. they have to keep doing deals, keep the thing in the air. they took away the $150 billion target. where they were using that, maybe that was a mistake. >> they do. >> look, i'm a house man. i will admit to being a house man for piatt who's been on the show about ten times on "mad m

we'll end with allergan, which lost ground after the fda delayed a decision on its application for newing where you are, that probably clears your head of all problems. >> that's amazing. go pro, up another 14%. earlier today i saturday down with carlyle group co-founder david rubenstein and i asked him about the news of the day. "the wall street journal" reporting that blackstone is going to launch a product akin to a hedge fund and if he's worried about new competition for clients. >> well, as you might not be surprised to hear, blackstone hasn't confided in me about their plans so i read the article but don't know more than what was in the article. clearly hedge funds have come back from the great recession and while they went down a fair bit after the great recession in terms of dollar volume and their ability to track capital, it's now come back. and i say private equity and hedge funds are attractive to investors now because they're looking for higher returns. blackstone has done very well in its hedge fund and funds business and i think will try to leverage that credibility into

a delaware judge fast tracked investor bill ackman's lawsuit against allergan. the matter should be decided quickly, a hearing set for july 7. >>> general motors recalling even more vehicles. now, some silverado, sierra, suburban and tahoe models involved due to audio software defect. the company has recalled 17.7 million vehicles. >>> verizon wireless looking to buy dish network spectrum to boost wireless speeds. the "new york post" reports top executive telling a group of insiders about the potential deal. >>> auto nation is america's largest car dealer, auto nation has 228 locations that generated sales of $9.9 billion last year. >>> the number of millionaires worldwide increasing 15% in 2013 from the previous year. the increase raised the number of millionaires to a record 13.7 million. that's today's speed read. david: you made it in time. good deal. we've been talking a lot about gold. gold rallying this week more than $50 to about $13.15 an ounce, a lot of this fueled by janet yellen, her soft pedaling on inflation, calling it noise. the turmoil overseas