pfizer and allergan getting together. $160 billion is what allergan is worth. the new york-based giant relocating to ireland, at least for tax jurisdiction. we'll speak with both ceos of allergan and pfizer in an exclusive interview in this hour. brussels remains under the highest terror alert as french president francois hollande is expected to sit down with president obama tomorrow to discuss strategy for combating isis. >>> and chipotle continues its fall. e. coli outbreak spreading, linking illnesses in six states including california and new york. want to start with the mega deal. one of the biggest of all time creating the most powerful pharma company. pfizer and allergan getting together would create the world's biggest pharmaceutical company. allergan deals at 363, pfizer down 2.5%. it's 11.3 shares for each allergan share. the overall value around $160 billion. we told you last week it would be a little over 11 shares, it is, 11.3. the merged entity for each of the allergan shares. pfizer stockholder also get one share of the combined company for each

pfizer and allergan combining for a value of 363.63 for allergan shares.ng 30% premium to allergan's uneffected price on october 28th. that's about 11.3 pfizer shares per allergan share. pfizer stock holders can elect some cash in that deal. it can get the tax rate overseas. they tried to do this with astrazeneca last year. domiciled for tax purposes for ireland. keep their operational headquarters here in new york. this will further enable them to develop research and development. later stages of drug development, 100 drugs, creating the biggest drug company in the world. now this raises some questions about pfizer's decision the potentially split the company into a higher growth and a slower growth business. company saying they will make a decision on that no later than the end of 2018. pfizer ceo will remain the ceo of the combined company. allergan's ceo will step in as coo, chief operating officer and president. basically the number two role there. a lot of folks think he'll be the successor and he's done this before when he sold forest labs to activi

by linking with allergan it will lower that below 20%. allergan's rate is about 15%.he deal combines two drug makers with more than $60 billion in annual sales. the top selling products such as pfizer's pneumonia treatment prevnar and botox it says it could launch more than a dozen new products over the next several years. it could generate $15 billion in sales. it's the result of several mergers. it was previously a generic drug maker called watson pharmaceuticals. in 2012 it bought companies actavis. allergan is up more than 5% and fooiz jer is down more than half a percent. >> landon, thank you very much. >>> quick look at your headlines this morning. brussels in lockdown for a third day while the search continues for a paris attack gunman. >>> pfizer's board reportedly approving a takeover for allergan for $150 billion. wti crude falling roughly 3% as the dollar rises to a seven-month high. it's easy to buy insurance and forget about it. but the more you learn about your coverage, the more gaps you might find. like how you thought you were covered for all this...

so when you put that all together the value creation for allergan shirlds is immense. >> with allerganfizer gets a slate of products spanning es at the time sxikz dermatology, neuroscience and eye care. allergan's flagship product botox brought in more than $600 million in the third quarter alone and treats not just wrinkles but multiple maladies from chronic migraines to overactive bladder. and the deal may be just the beginning of more transactions to come. analysts say further sets pfizer up for a potential split of its businesses into a newer, faster-growing product unit and one composed of older drugs that have lost patent protection. but they also warn of political risks to the deal. pfizer ceo ian reed is already addressing the expected onslaught of political attention. >> we've been engaged for the last year and a half with leaders in the congress. we see this deal as being very positive for the united states. >> already democratic presidential candidate bernie sanders has spoken out about the deal. the two companies said they expect it to close in the second half of 2016 with

allergan gives them a way to do that. it cost them a pretty penny, the company is confident this is a good one. allergan has an excellent vaccine and cancer franchises, including their benchmark drug, botox, which they haven't raised the price up, while simultaneously keeping up with new uses for the darn thing, past wrinkles and migraines. perhaps they can run into a new form of company with this merger that's what the hope is. in the meantime you're being paid to wave dividends that nets 3.5%. the market doesn't like this. absolutely doesn't like this deal. >> for real allergan shareholders because it's delighted with phaser before it closes. and potential government challenge over the tax avoidance scheme. we believed in brett saunders' aspirational earnings estimate. the ceo laid that over and over again, including on "mad money." that's something that frankly is no longer a factor. i still believe in brent saunders. still believe in allergan money, but pfizer makes the turn much more convoluted. the cut and run crowd

what's next for allergan? i'm sitting down with the ceo to find out. >>> world leaders making game-changing decisions overseas today and some stocks getting crush wood i their policies r they in your portfolio? >>> a postthanksgiving special edition, much heavier, lightning round, dead ahead. so stick with cramer. >>> last week we learned the much-discussed allergan/pfizer merger is happening. even though i think this is a very smart deal, one that will give fizary tremendous pipeline of new drugs along with a lower irish corporate tax rate, the market initially seemed pretty sceptical. allergan stock selling off as investors wonder what's in this for them, since then it rebounded but questions how this transaction will reward the company's shareholders given that allergan has so much going for it on its own. stock got hammered down 6 bucks. we got to remember thank allergan ceo, brent saunders, a tremendous job creating value and wouldn't have agreed to do this deal if he didn't think it was a good one. let's

i think here at $295, you have to own allergan just on allergan's ability to do well alone. >> for me, i go bigger picture. part of the driver of this bull market is m&a. this is one kind of crumble in that pillar here, crack in that pillar that maybe you are not going to get as much m&a. when you couple that with the fact some of the bond deals that are behind these m&a deals are not doing as well as everybody would like them to do then you start to say, wait a second. maybe m&a isn't going to be a driver. if i had to buy one of these, i probably would buy pfizer. that is probably more for the dividend. >> a lot of the target share prices are trading at a discount to the announced deal price. much more on that side of the m&a story. let's continue with the health care side of the story. that was the big news today. unitedhealth dealing a blow to the affordable health care act after warning it may stop offering insurance plans to individuals of public exchanges which could have huge ripple effects a. they said we cannot continue to participate in the plan if we continue to sustain los

betting against allergan has been a bad one. after getting slammed down to $2.52, the stock's come roaring back, although obviously it's been helped by the takeover stocks at pfizer. today you got it. let's check in with brent saunders, the president and ceo of allergan and find out what's next for his company. mr. saunders, welcome back to "mad money." >> thanks for having me, jim. >> i know it's the elephant in the room and i know it can't necessarily be petted, but my colleague, david faber, on "squawk on the street" said you know that allergan and pfizer are talking and it's going to end up being the equivalent of a lot more if there is a deal than allergan's currently selling for. i do have to ask you this. if allergan were to be for sale and if someone was to buy it, i presume that that price would be a lot higher than $3.07 where the stock went out. >> yeah, i think that's probably a safe assumption. but just to be fair, we've issued a press release on our early discussions with pfizer and outside of that, there's not a w

pfizer is exchanging 11.3 shares for each allergan share it it is structured so that technically allergan pfizer which is the bigger company. this is going to break a lot of records if it happens. the biggest acquisition this year. the biggest acquisition ever and -- ever ineutical the pharmaceutical sector. companiesike these are still fighting to go ahead with the deal. where there is a will, there is a way. francine: it will be a monster deal. thank you very much. it could come now. we are ready for. manus: what is big in the global surveillance? , --cine: for those listing for those listening -- we will be talking about brussels, it is still under lockdown. we'll have a look at the pmi numbers. we will talk about monetary policy. in the meantime, you can follow us on twitter. we have plenty more coming your way. ♪ capital the belgian remains locked down. pfizer and allergan are said to be close to a deal. it would be the biggest pharmaceutical company in the world. argentina elects a pro-business president. investors hope for opportunity. good morning. this is bloomberg "surveillance.

but pfizer is bag allergan is the biggest example today. alcoa which has been producing aluminum since 1886. under the ceo, they have been trying to reinvent the use of the metal. finding way to integrate it into trucks. the ford f-150 made with aluminum was awarded green truck of the year because it lightweighted with alcoa aluminum. they were the underdog. they bulked up on aerospace and earlier this year they decided to split raw material side of things from the pry pry tear aluminum engineering side. my "squawk on the street" david faber broke that elliott singer bought a stake in the company and seeking constructive dialogue with company. he believes alcoa -- they think it will be worth a great deal more than kleinfield indicated when he came on our show last month. i don't think he disagrees. i've been welcome any dialogue to create more value, sit down with elliott management. that said, the stock has been a terrible performer, both before and after. the world will number a deficit position with alimb numb because of increased use bu

with allergan based in ireland, eight has a lower corporate tax rate than the united states. the five-year -- the pfizer-allergan merger follows the example of fast food company burger king and pharmaceutical company my lead, other u.s. companies that have recently completed in versions -- inversions. a list of the top event -- >> everyone on the list has a total of $140 million. only one woman. 39 in the texts were women. eight of them with ties facebook print mark zuckerberg is the head honcho on the list. that is most prize. and you saw from that video, that was elizabeth holmes, her fortune $4.5 billion. she owns a blood testing company ther sereno's -- called anos. a bit of a disappointing list there. i will leave it at that. genie: let's hope for better luck next year. thank you so much for that, will hildebrandt, and we will look at business per thank you for watching "france 24." it is time now for the press review. gala upton is with us here. -- belle lupton is here with us. lots of information on the paris attacks, particularly on those operations last night in russ

being structured as allergan buying pfizer. but allergan shareholders get the premium. this would create the largest drug company in the world. that is also the largest deal to move for tax purposes. the combined companies new tax rate will be about 17% to 18%. this is bound to attract political scrutiny, i believe already is this morning. pfizer ceo sat down with us, saying there's more to it than taxes. although the price may have been different if the tax benefits weren't there. you can see both stocks are trading down today. some analysts saying shareholder also may have expected more, up to $400 per share. allergan ceo joining us, addressing that point. take a listen. >> we're getting 11.3 shares for our shareholders. when we negotiated that price, that would have equalled over $400. you can't look at spot price. what you get is a pro forma ownership of 44% of the fourth largest company by market cap in the world. you get access to 100 new markets. you get access to a deeper pipeline. you get access to $25 billion in free cash flow. and you get access into a divide

because that might affect any pfizer-allergan linkup. >> they did.hat gives you your big clue. they said all of these rules will be in place as of today. that is, the press conference that they held over the phone was just before 5:00 p.m. this afternoon. so presumably any deal, any transaction that takes place after that time including possibly pfizer-allergan would be influenced by these new rules. that means they'd have to go through these with a fine-toothed comb and make sure that deal still makes economic sense. there are a lot of reasons why they might still want to go through with it, but this is something the treasury says they need to do in order to stop these companies from moving overseas for purely tax reasons. >> all right, eamon, thanks very much. eamon javers reporting with the latest from washington. >>> one of silicon valley's hardest start-ups made its wall street dedue bu today. payments for square rose above its ipo price of 9, which was below its projected range of $11 to $13 a share. some investors are concerned about square's

pfizer will exchange 11.3 shares for each allergan share. what this means, is the fact, is that the transaction is structured so that dublin-based allergan is buying the bus larger pfizer. kind of a ruler -- kind of a reverse merger if you like. this is also a way of getting around the tighter rules of the treasury which were talked about on friday. this will be the biggest merger in the pharmaceutical injury ever. we are talking about the biggest merger in any industry this year. talking about the biggest tax in version in history. although we did see the u.s. treasury make those moves on friday, it does look like these companies determined to come to some sort of an agreement. guy: thank you very much indeed, nejra. after the break, we will get you up to speed with what is happening in brussels. we will be live there at the authorities keep the city on maximum alert us. ♪ ♪ 6:30 in london, 7:30 in brussels. let's get you up to date. nejra: david cameron will announce plans to boost britain's military equipment budget by 12 billion pounds.

pfizer will pay 11.3 shares for each allergan share. pfizer will move its headquarters to ireland to secure a lower tax rate. brent saunders will take on a senior role. trade off 3/4 of 1%. allergan up 5.4%. it should be a slap in the face for the u.s. treasury department because they've been trying to crack down on the plan. allergan is buying pfizer even though pfizer shareholders will have the bigger shares. >> very much a slap in the face. allergan doing the buying is the one that's benefitting because of that structure and, you know, as inversion deals come, this is a huge deal. just in general of any deals. over $150 billion. abi sab, that's over 105. this is a massive deal. it's inversion. that's what they're trying to escape. it will really infuriate them. you can understand why these companies are trying to get this done before any meaningful tax reforms. >> $2.1 billion will be added to the bottom line of pfizer. if you take a look at the numbers 12,.5%, that's the tax rate in ireland. what is it in the u.s.? 35%. that gap, an

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pfizer and allergan announcing.ut more importantly, the new combination will allow pfizer to relocate its headquarters in ireland, which has a much lower corporate tax rate than the united states. here's pfizer's ceo ian reed on the deal just last hour on "squawk on the street." >> this is a great deal for america. it allows us to continue to sustain an investment of approximately $9 billion mainly spent in the united states. we have 40,000 combined employees in the united states. so i think it's, you know, it's a great deal, i'm very happy to be announcing this deal. >> i know you have a lot of thoughts on this deal, but the fact that headquarters will now be in ireland, is that just a formality in your opinion? >> of course it's a formality. the way we decide where companies are based is absurd. most companies are based in delaware in the united states. it's just a piece of paper in a lawyer's filing cabinet, that's the whole thing. a company is reorganizing to try to get a better tax rate. this is going to contin

allergan activists -- a massive -- allergan-activist, a massive company. i was going to say it is tiddlywinks. what is tiddly winks? stephanie: it is a board game. about what do we know david saunders' future role? drew: he is going to be chairman and ceo. that said, brett saunders is coming in as chief operating officer. i believe allergan will get four seats on the new board as well. saunders is going to be in a very senior role at pfizer. that is one of the top three positions or so there. this is not mentioned in the release. but if pfizer eventually goes down this road we have been talking about, the other big thing they could do, breaking the company and have, it probably puts brent saunders up for a role leaving one of those companies. that will be an interesting space to watch over the next few days and weeks as we understand exactly what happened in these negotiations and exactly what the terms are for saunders, especially when pfizer does a conference call with investors a little bit later this morning. two-fer formay be a investment partners. ja

. -- allergan could be brought in what could become the drug industries biggest deal ever. in the pastf rally areh, energy's shares struggling to stay in the green. why the outlook could get even worse. we are about an hour away from the close of trade this thursday. i want to head to the market desk where julie hyman has the latest that is the scene today, we just could not carry the upper direction today. julie: we could not carry a downward direction either. not changed.re has a mixed picture between them. pull we arethe push experiencing here. not exactly equal, red and green, interred data in terms of up and down. nonetheless, declines in energy and health care are definitely dragging down the overall averages, putting pressure. take a look at oil prices and you will see what is going on with energy stocks. off theil has come off lows, still lower. sachs, in agoldman worst-case scenario were mild weather continues in the u.s. and europe, we could see it fall to as low as $20 per barrel, causing some concern. in terms of health care, these stories all day, united health

or an allergan deal. they went ahead with the allergan deal. the two sides were waits aing a focused on what treasury had to say. now that they have gotten it, it doesn't appear to hurt their combination, they're back on focusing on other issues they needed to tie up to get this deal done. does that mean a monday announcement? yesterday that appears unlikely. >> now it feels like it. >> you move towards thanksgiving, many people -- people familiar with the situation told me, let's assume it would be the following monday after thanksgiving. but timing can always be hard to determine fully, especially given it wasn't that much. now, that said, these rules which will be retroactive to september, which have been tightened yet again, might have an impact on the mylan deal. might have an impact on the medtronic covidian inversion that took place. and there's one key thing people are waiting for and perhaps focused on. that has to do with earnings stripping. we got some commentary from treasury saying they may try to take some action on earnings strip

oliver: today's deal with allergan and pfizer is at a 20% premium. if you go back to where they were treating the day before, new started milling about this in late october. that is what the averages in terms of what companies are offering other companies. if you look at the stock moves related to these deals, but target companies are getting a smaller boost following the amending announcement. that even including stories in which there has been speculation or rumor. that is the lowest we have seen or moves in the last 17 years or so, usually when you have markets and there's a lot of m&a higher,g and prices are you do see those premiums come down a little bit because some of those premiums -- some of the stockanies say market is generally in evaluating -- in elevated evaluation right now. you are seeing that more across the board. this particular case is interesting because allegan is down by 3%, the average day after moved to 16%. is very particular to the steel that maybe warranting some caution. scarlet: is a driving stock prices lower instead of

chief executive of allergan holds a lot of cards here.e is seen as one of the rising stars of the industry. there is a lot of appetite to see a significant position. split, he is they running the products business part of the combined company. he will have a very big role in these two companies. >> thank you very much. that is at hammons. -- ed hammons. >> tomorrow, an exclusive interview with the ceo of canadian the civic railway, hunter harrison. united health maple out of out ofre -- might pull obamacare. president obama is threatening to veto a proposal to prevent syrian refugees. state seems to have all the cash it might need. ♪ david: welcome back to "bloomberg markets". it is time for the bloomberg business flash. intel says sales will climb in the mid-single-digit range. foryst growth estimate was 4% next year. until faces the climbing demand from a pc market. revenue sales and revenue fell short, sales growth under 1%, revenue under 2.5%. says it is ok to eat genetically-modified salmon. the fish grows twice as fast as normal sal

endingnd we saw allergan down, despite that merger. there were the rumors that started in october, but nonetheless, it seemed like the market got a little tired of the m&a. new it seemed like a market what was going on, and there were also politicians that came out. at this point, not much excitement left for this deal. and commodities. i went to take a look at the bloomberg terminal, -- i want to take a look at the bloomberg terminal. commodities. nickel and zinc. this really has my eye. l hashow hammered nicke gotten, the lowest level since 2003, and i keep saying this, joe, that it is turning into more of a demand story. pacitti, not enough to help -- not enough to help. demand has to be that much better in order for those supply cuts to matter. joe: we just keep getting worse and worse. out: i am a little bummed right now. joe: i was playing around with some weather data, and this weatherline on my chart deviations from the norms, and where it is going up, it means that day is warmer for that day of the year, and the blue line is n

pfizer and allergan are said to be close to a deal. it would be the biggest pharmaceutical company in the world. argentina elects a pro-business president. investors hope for opportunity. good morning. this is bloomberg "surveillance." isnow the big focus commodities. tom: everybody is talking about brussels. i can't imagine the tension. imagine you have kids in brussels. i can't imagine the tension. there is a jump condition. that is one of our fame's. not only the usual the client in commodities, but real deterioration across the industrial metals. we are getting a belgian auction in about half an hour. 2 trillion is the new figure. amazing, isn't it. vonnie: good morning. the french president has the u.k. on board in building a coalition to fight the islamic state. wants to join the us-led airstrikes against islamic state in syria. they will meet with president obama in washington. on wednesday, he meets with vladimir putin. the city of brussels is under lockdown because of fear of an eminent terrorist threat. the subway system rema

i'm talking about pfizer's acquisition of allergan, though it is structured as allergan actually buyingfizer. but really, it's pfizer buying allergan. 11.3 shares. not a great performance out of the gate. perhaps the companies did not get the opportunity they were hoping for to explain beyond the simple fact of having access to overseas cash, perhaps lower tax rate as to why it is beneficial for both sets of shareholders. that may have contributed to a less than stellar opening performance. today pfizer is up 7 cents, allergan up 33 cents. the spread is still fairly significant that comes to 3.55 or so on the share price. talking 3.02 now on allergan. a lot of the presidential candidates have weighed in. we're going to hear more in terms of jawboning about pfizer no longer being a u.s. taxpayer when and if the deal closes in nine months from now. there doesn't seem to be a great deal of threat to it when you really get down to what can or cannot happen. that said, the merger agreement, they have a $3 billion break up fee. it's $400 million for either side to get out. should allergan be

that is allergan. should stress it was constructed this way still to avoid paying high taxes in this country, pfizer pays 25%. relocating to ireland would mean it pays at least 20%, possibly less than that. and that is a big incentive. obviously he politicians bounded on this one, including bernie sanders who says it was sham and hillary clinton says she would propose to stop this thing and then the white house saying this is no way to conduct business and is borderline antipatriotic, i hague toned a that companies would not be doing this -- hasten to add companies would not be doing this if rates were not so high in the united states. in other words, if it wasn't such a disadvantage for them compared to global players, and looking at the rates abroad. they can get cheaper tax rates abroads, maintain the job. politicians you could ee erase the problem by lower tax rates. but politicians don't do that. nor do they tell you've that side of the story. might be the only one who just did in the mainstream m

this is technically structured as allergan buying pfizer, but it is the allergan shareholders that get the premium here. when this was announced this was worth about $363 per share based on pfizer's closing price on friday. pfizer stock that is declined, now it is worth less, about $355 as of pfizer's stock price today, about $150 billion be deal. this is already encountering blit cal backlash given ought the companies trying to move overseas. pfizer ceo saying there is more to the deal than just lowerel corporate tax rate. >> we're focused on sustainability of research. this is our high risk business, we are going to continue to pump in $9 billion globally into research, most of the united states, we are focused on finding cures to make of a difference in people's lives but focused on alzheimer's and on rheumatology and on cancer and vaccines and anesthetics which is important. >> now, both companies stocks are trading off a bit today, of course, pfizer the total value of the deal is coming down. analysts yeeg that the treasury or some other form of government will step in trying to l

pfizer offering 11.3 pfizer shares per allergan share amounting to $363 per allergan share. $160 billionn total deal value. this would create the world's largest drugmaker selling products from the lipitor -- the combined revenue is expected to top $70 billion in 2017 and the two companies are expected to have more than 100 programs in mid to late stage development. of course, it would also establish the combined companies' tax base in ireland. pfizer moving from here in new york over to ireland in terms of taxes and that, of course, is already facing political backlash. democratic presidential candidate bernie sanders calling on the obama administration to block the deal. in our interview this morning, ceo of pfizer ian reid addressed the political implications. >> this is a great deal for america. it allows us to continue to sustain an investment of, you know, approximately $9 billion mainly spent in the united states. we have 40,000 combined employees in the united states. we've been engaged for the last year and a half in -- with leaders in the congress. we see this deal as being ver

allergan is headquartered in ireland. >> a company with 60 years of eye care expertise. >> allergan would be technically the buy are even though pfizer is the bigger company. and treasury rules against this type of deal known as corporate inversions, would allow pfizer to lower its tax rate from 25% to about 15. pfizer ceo says there is no competitive advantage to officially being headquartered in the u.s. >> i have companies with tax rates of 15% that can invest two to $3 billion more in research than we can and fighting with one hand tied behind our back. >> pfizer has been dealing with competition from generic you drug. cutting its cost by $2 bell since 2010. ines ferre, al jazeera. >> a warning from ford saying many of its cars could catch fire. ford fusion he and mercury milans.a feature that could cause their gas tank to leak. >>> urgent international action to prevent climate-related death. people dying from weather disasters, another 4 billion people were injured or in need of emergency assistance. the agency is now calling on global leaders to reach a climate deal in next week's

or take the much-bemoaned pfizer/allergan deal. yesterday we heard about what a crummy deal this was for allergan holders. the stock plummeted. it was obviously my fault, i set up the deal, especially when i told you to buy allergan down 10 bucks, wow i'm a really bad guy. i was trending for ridicule, hashtag stupid. you would have thought that i was endorsing the purchase of allergan. it was all my fault. i threw my headset down. that was rex. today i felt pretty good. because allergan gained the whole thing back, a 3.22% gain. defense stocks railroad again. our country is lined up to buy the wares of northrop grumman and lockheed martin. at the samtime, travel stocks got hurt by the travel advisory. getting hurt. but here's the bottom line. this was clearly a day where we should have been crushed the way they were in europe. yet it didn't happen. in traditional journalism, it's not a story when something that was supposed to happen didn't happen. but when it comes to the stock market, if you don't get a decline when you should, t

now allergan is on the shopping list. is prepared to pay 150 billion euros or the botox maker. the deal would make waves on the global pharmaceutical market. the number one drugmaker, with sales of more than 48 billion euros, pfizer comes in second. but pfizer could take the top spot, following the acquisition of allergan, the world's number 17. it would boost sales by nearly 157 euros. the group pays just 12.5% tax on profits. after the acquisition, pfizer can also transfer its textile or sale to islands, a voting $1 billion tax bill but i don't -- that is not owed to the u.s. government. a coalition is looking to prevent that. >> the biggest corporate deal this year can be one of the biggest deals in history. brent: and a tax in version as well. it is very controversial in the u.s. as well. here is a reminder of the top stories we're following for you. the terror alert in brussels will stay at the maximum level until wednesday. and a fourth person has been charged in connection with the paris attacks. thank you for bein

pfizer is in talks to buy allergan for $380 per share.would be the drug industry's largest ever deal. president hollande has stepped up his campaign against terror in france. apartment of -- intensify the bombardment of i.s.. let's head to hans nichols who is in france. what exactly did they say? hans: the french foreign minister is indicating that one of the bodies -- and they don't know how many, three -- was so shut up and bloody, it is difficult to make a positive identification. was -- mostot it -- he iswe heard from warning of a potential weapon attack. that is why he is making his case. that is a part of his advocacy for police powers. at the same time, the ap is reporting that in belgium, there are six raids taking place associated with some of the associates of the suicide bomber that attack here in paris on friday night. , having, i have to say come in and out of paris and brussels, today seems like a return to heightened security. it is a very jumpy city. it seems like men and police officers with submachine guns patrolling bac

pfizer and allergan have agreed and creates the world's biggest drug maker.ising 2 and a half percent after friday. takeover will be the largest tax inversion over to move abroad. allergan that makes botox runs out of garden state. >> nicole: petco to be acquired by equity firms and canadian pension fund for $4.7 billion, announcement on this one could come today. wall street journal saying it would be one of the leverage buyouts. petco sales, pet foods in more than 1400 stores across the state. the company acquired for the second time and partnered back in 2006. >> cheryl: people lof their pets . ford has a new contract with the united auto workers union. uaw nearly approving a four-year deal wrapping up five months of talks between the yown and automakers. raises wages for all workers and promises bonuses and eliminate the two-tier wage system that pays newer workers. >> nicole: we will be waiting on that. on the earnings' calendar, the first quarter that hewlett-packard reports as split company. fifty cents a share and the company provides technology solut

. >> two of the world's biggest drug makers are joining forces, pfizer and allergan make medications many of us have in our medicine cabinets. the deal may be more about taxes than finding new cures. >> the merger is one of the biggest deals in health care history. it's said to be worth $160 billion. >> we need to say what life are we touching today and making better. >> the merger is aimed at helping u.s. based pfizer save billions of dollars in taxes. allergan is headquartered in ireland, subject to the lower tax rate, even though most operations in new jersey. >> from allergan, a company with 60 years of eye care expertise. >> the maker of botox would be the buyer, even though pfizer is the bigger company amounted would side step treasury rooms known as corporate inverses. it would allow pfizer to lower tax rate from 25% to about 15%. speaking to the wall street journal recently, pfizer c.e.o. said there's no competitive advantaged to being officially headquartered in the u.s. >> i have fortune companies who have tax rates of 15% who can invest $2 billion to $3 billion more in res

sources say advanced effect for pfizer to buy allergan.alk about the ongoing terrorist situation in paris. a jet with polish tourists on emergencymade an landing in bulgaria due to the suspicion of a bomb being on board. the french president told a meeting of french mayors that he is forming a grand coalition to fight the terrorists. gang was suggested the preparing for another attack. hans has returned to the french capital. what have we learned from the authorities overnight? hans: we learned the extent of that police operation. what paris is waking up to is a only corporal run six can answer. -- corporal forensics can ans wer. was one of those killed the mastermind of the french attacks? they don't know how many bodies they actually recovered. the scene was so bloody. they eventually ended up arresting eight individuals. one thing that is clear is this terrorist cell was prepared for additional attacks. was new terror cell neutralized and everything is leading us to believe, considering their weapons stockpile, their organization, and t

to advil, is buying allergan. deals are called tax inversions. pfizer is the bigger company. it's going to move its headquarters to ireland where allergan is based to save billions in taxes. this deal is ruffling a lot of feathers. one of the only thing agreed upon is this is bad for america. a great article in fortune questioning whether this is a done deal. there's a really big gap between the offer for allergan and where allergan shares are trading today. that could indicate that investors think the deal may fall through. stay tuned. you know how long these take. we're going to under the sea. the fda giving the okay to genetically modified salmon. you will not see it in big name stores. costco saying it doesn't care if genetically modified salmon is bigger and matures faster. it will not carry it. the fda approved the aqua advantage salmon last week. it says it's safe to east. -- to eat. others have all said no way. i don't know about you. but i'm still just a little creeped out about eating something -- steve:

you would buy allergan and sell pfizer. and i said this last night, i think it is a buy at 3.5% dividend yield, whether the deal doesn't happen. pete is shaking his head. >> his pony tail is up and down. >> i think pfizer, i'm dumbfounded it is down to the levels based on the reasons they are selling this name off. i think it is ridiculous. and i think you are right, dan. i think a stop -- i think you said last night around 30, something like that. i think absolutely. >> thanks for watching. >> and i would be long-term when i talk about a name like pfizer. this isn't a trade. this is an investment, they have a yield and their own pipeline. if they could get the allergan piece, the inversion, that is just cherry on top, quite frankly. >> quick take. >> allergan is already up 20% year-to-date. pfizer i owned forever, slow and steady wins the race. if you want to own something slow and steady and no mine fields, you go allergan. but i agree with guy, it looks like it is underpriced at 311. >>> airline stocks losing steam as gl

botox maker allergan is based in ireland. to get a lower tax rate, allergan about buy pfizer. they are dealing with tough competition from generics. >>> stocks higher on wall street closing out the best week of the year. the dow gained 579 points for the week. the s&p finished 66 points higher. the nasdaq was up 176 points for the week. >>> if you're hitting the road this thanksgiving holiday, good news at the gas pump. the average price of ga gasoline dropped 11 cents the past two weeks to $2.14 for a gallon of regular and that is 70 cents lower than it was a year ago. analysts suspect that prices december. >>> the final "hunger games" film tops the box office in its first weekend. it took in 10 on$101 million dollars. the film reportedly cost 160 million to make. the latest james bond flick made the peanuts movie came in third. >>> adele's new album "25" is likely to break sales record. "25" was released on friday. it's on track to sell 2.5 million copies in the u.s. and that would be the highest weekly sale for any album since 1991. target is selling a cd version and says 2

pfizer would essentially be buying allergan. the deal is expected to be mainly in stock but could be a small cash component. pfizer could pay about $355 a share valuing allergan at $140 billion. a deal could be struck in the next 7 to 10 days and checking pfizer and allergan in europe both are up over 1%. back to you. >> thank you. if you're just joining us this morning these are headlines. gunmen have taken 170 people hostage at a luxury hotel in mali. some have been freed though. a dovish draghi extending the euro lower as the ecb must raise inflation levels and nike is to buy back $12 billion worth of stock as it announces a 2 for 1 stock split. >> welcome back. gunmen have taken 170 guests and staff hostage at the radisson blu hotel in mali. the latest reports coming through suggest that of the 170 people captured some people have been able to escape. mainly those able to resite versus from the koran. state tv announced further detail of the attack. >> according to witnesses some of the assailants arrived on foot and the oth