allergan a little bit bigger. mark: who is better place? what do you think? allergan or takeda? business units howo it remains to be seen far along they can go. you have to keep into account that shire shareholders have been dropped into the company for years. we were sitting down and thatssing the potential fell apart. keen to get out. that said, they are going to get the highest price they can get. high thesey how far companies can go. mark: and just to go to the merk of germany, selling its consumer health business. what is the rationale for that? manuel: the german mark -- merck has been trying to streamline its portfolio and kind of offload more peripheral assets. they have been thinking for some time about what to do with the consumer otc assets and now they -- p&g.nd png -- png they are trying to deleverage. they bought a company called sigma-aldrich. they have to be a little in debt since then and they are looking for ways to clean up the balance sheet a little bit. vonnie: back to the allergan deal, if this is not work out, clearly he has to do something else. drew: in

breaking news, allergan is said not to bid for shire, according to cnbc. shares spiking on the news around 3.4%. it was not clear before whether allergan has submitted enough. shire shares are dropping. china has said it has rejected an offer worth about $61 billion from japan's pharmaceutical. now we are hearing that allergan is not in direct competition with them. david: no deal yet, but it feels like shire is in play one way or the other. coming up, it is the don of a new era in cuba, or is it? taking overcanal is for fidel castro, but a changing of the guard is expected to remain for the island nations. that is coming up next. this is bloomberg. ♪ this is bloomberg. ♪

and later in the morning, reuters reports allergan the takeover panel immediately calls allergan and says you got to put a statement out so allergan did, and we got a statement somewhere around 10:00 or so this morning forget when. saying that allergan was in the early stages of considering a possible offer for shire they had to move quickly on that statement, of course, and that is what they told us allergan is in the midst of a major review of all of its bases following potential strategic actions. what i'm hear to tell everybody after speak stog people familiar with the situation, allergan will not follow through with a bid for shire. again, i'm hear from people familiar with the situation close to the company, telling me that allergan will not be following through with the bid for shire. shire shares were up on the bid, props that there are multiple bidders for the company. they did move on news of allergan's interests allergan's share declined as well this, however, does not appear it will be one of them we will wait and see if we get official consideration of that given the uk

on "mad money," is allergan giving you frown lines sitting down with the maker of botox. but i think i need it for the migraine going to give you my take and used to be big player in rooet space. we got the ceo "mad money" back after this break. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. [phone ringing] need a change of scenery? the kayak price forecast tool tells you whether to wait or book your flight now. so you can be confident you're getting the best price. giddyup! kayak. search one and done. oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. >>> some stocks, they can't catch a break. this morning go

allergan has said it will make a biotech shire after rejected a $60 billion takeover bid from japan. that offer significantly undervalues the company. missed on revenue. boostmpany tried to performance by increasing prices, but the risks have been slow to pay off. morris sees lower-than-expected growth in japan. the apple iphone business may be wavering. taiwan semiconductor manufacturing, a major -- major apple supplier, announced sales have fallen short. analysts are saying that iphone

a report by reuters suggested us drugmaker allergan is considering a bid for shire — something it lateried. earlier on thursday, japan's takeda said it was in talks with shire after having an initial $63 billion bid rejected. and now for a brief look at what is trending in the business news this morning. the business insider reports a survey of top financial executives by duff and phelps — the majority think london will lose its crown as the world's global financial centre within five yea rs. from cnbc, more on the seemingly unstoppable rise of amazon.

allergan. more on they will not make a move for shire.atest in our deals report coming up, next. lisa: this is bloomberg markets. describeds director jeff jacobson. the deal was codenamed project juice. lots of juicy details. us, the reporter who broke the story. what further details have we got? something bizarre about this story, trying to sell the company. >> almost too many details. amended the earlier issue. he had written correspondence between executives at xerox and fuji. showy what they collectively is there was in fighting going on before they got this deal. a lot of different voices. some people said it was a great idea. there was this issue around jacobson. the ceo of xerox. fullnts to maintain he had authorization to do the deal. carl icahn has said he didn't. he was acting and was essentially fired midway through negotiations. some of the documents appears to be showing that is correct. >> we will have to devote a whole day of television. i believe it has not been completed yet. could this throw a wrench? >> the next time it

breaking news, allergan is said not to bid for shire, according to cnbc.iking on the news around 3.4%. it was not clear before whether allergan has submitted enough. shire shares are dropping. china has said it has rejected an offer worth about $61 billion from japan's pharmaceutical. now we are hearing that allergan is not in direct competition with them. david: no deal yet, but it feels like shire is in play one way or the other. coming up, it is the don of a new era in cuba, or is it? taking overcanal is for fidel castro, but a changing of the guard is expected to remain for the island nations. that is coming up next. this is bloomberg. ♪ this is bloomberg. ♪ >> given the way the fed defines a, they are probably behind the curb. >> cyclical trade may be getting longer in the tube. ♪ david: this is "bloomberg markets: balance of power." i'm david westin. shery: i'm shery ahn. today marks the former will end of an era in cuba. it is national assembly elected make ld is to succeed fidel castro, ending six decades of rule by they castro family. the new pres

. >> great respect on what allergan has attained.hould expect us to move in the therapeutic applications much like we have done in facial aesthetics. >> when you compare your longer acting toxin to botox, is it double the dose as some people say so it may not be the apple to apple comparison. >> we don't believe it is the double dose. when you look at dosing, each unit is different from a unit of revance. so from our perspective, there is something unique about the toxin with the peptide that is giving these longer duration. >> i was looking at this piece of research that just came out it says mission impossible if push comes to shove, we would stop short calling it mission impossible i don't know, i mean, kind of an aggressive claim, mission impossible are you doing well with it >> i think we feel very good about what we invested on the neuromodulator technology. rt002 is distinctively different. and it has the peptide in the case of the bio similar, this is a same base material but separate products. we will be filing for approval

a report by reuters suggested us drugmaker allergan is considering a bid for shire — something it latertalks with shire after having an initial $63 billion bid rejected. and now for a brief look at what is trending in the business news this morning. the business insider reports a survey of top financial executives by duff and phelps — the majority think london will lose its crown as the world's global financial centre within five yea rs. from cnbc, more on the seemingly unstoppable rise of amazon. it's planning a push into clothing sales to overtake walmart as the number one apparel retailer in the us. that is all we have time for on the business briefing. still to come, plenty more, including a look through all of the papers. goodbye from me and the team for now. dame tessa jowell has become the first person to take part in a new, world—wide database, which aims to eliminate cancer. the former mp was diagnosed with a brain tumour almost a year ago and has campaigned to get better treatment for other patients. catherine burns reports. dame da m e tessa dame tessa jowell. .. baroness jow

allergan has said it will make a biotech shire after rejected a $60 billion takeover bid from japan.hat offer significantly undervalues the company. missed on revenue. boostmpany tried to performance by increasing prices, but the risks have been slow to pay off. morris sees lower-than-expected growth in japan. the apple iphone business may be wavering. taiwan semiconductor manufacturing, a major -- major apple supplier, announced sales have fallen short. analysts are saying that iphone sales have peaked. apple shares are trading lower today. ahead, a recent event is this weekend is america, and we ducati global the ceo, next. vonnie: this is "bloomberg markets." shery: record sales for 2017 for a new north american headquarters in california. ducati has kept racing ahead beyond the formula one crowd. the global ceo joins us from san francisco, where he has been visiting their new north american headquarters in mountain view. thank you for your time. i want to get to your products, the scrambler. but how are global trade tensions affecting your business and the broader motorcycle mark

allergan is in a lot of trouble long-term. they need to diversify away from botox.dy has to do something because people are worried about their businesses not doing well. >> they do also have shire we'll see. developing story >> a lot moving today. biggest one-day drop for phillip morris on record dow is down 113. we'll get to other movers in a minute don't go away. [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances. at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. when it comes to travel, i sweat cthe details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you

but allergan came out, as a result, of being contacted saying you have to make a statement now afterrs said there was interested in buying shire. they did it and then we reported not long after they were not going to follow through with an offer. and they said we're off. we're done we're not doing anything. >> that was insanity. >> the board saying we're not doing this stock tipping down it's gaining back a bit today. you can see where shire is, too. it backed off, of course it's very difficult. >> i thought allergan was done revance is the botox only twice a year. by the way, can i mention that ge, you talked about what ge has to do. you know, sometimes it's like the ge comes out of the box. steve will be with us in a few minutes. >> nice. >> yeah. ten minutes from now steve toosa. the biggest bear will come on our show, david. >> why we're citing sources on allergan when the company said sorry, guys. >> they're great sources. >> yeah. >>> speaking of bids pinnacle, you mentioned it a couple of times. it's up this morning taking a significant position in the company. 9.4% stake and

and we'll mention allergan today.k is down, even though the quarter was beat top and bottom line and they raised guidance hearing that, even though they outlined ideas for strategic evaluation of the company, jus some confusion among investors on what is happening there interesting to see the stock down 4% on a good quarter. >> coming into 2018, we had the corporate tax reform, and we all sat around the desk and talked about the sectors that had the cash, significant amounts of cash overseas. health care, big pharma, was second to technology that seems to have lost, been lost in the conversation why is that? >> everybody was hoping that would mean m&a is going to happen we have seen buybacks and other capital deployments as a result of tax reform. we haven't seen huge deals not these massive mega mergers people are hoping for. there's still hope they will come >> pfizer, which is perennially a takeover every quarter we have this same discussion and there's a shallow discussion on the earnings all do you really expect

allergan dropping. but apple, another area of focus.hipmakers dropping, the handset boom declining. the catalyst for everything else dropping. they are warning the current quarter will be $1 billion less than projected, in part because of waning demand for handsets, but a high-end smart phone, hints, hint, the apple iphone. apple iphone sales could be very weak. let's go into the bloomberg at gtv. the philadelphia semiconductor index, these chip stocks have had a wild ride. look at this, this is a huge drop with this latest news on a possible significant decline in handset demand. yvonne: how we have reached the end of that cycle. you mentioned the look more us. tohave seen this plunge tied disappointing earnings. it sent the tobacco industry reeling. su: an incredibly negative report in that it signals a declining u.s. cigarette sales where there has been pushed as the cigarette -- to discourage cigarette smoking, but in japan, a key area for sales. let's go into the today stock chart for philip morris. you can see how large the declin

shares of shire are popping higher as it is said allergan may be considering a potential bid.o beat withakeda's they have made three bids, so it will be interesting to see how this all plays out. right now, shire popping choir -- higher, the acquiring company, not so much. mark: emmanuel macron, angela merkel are hoping they can bring donald trump back to the trade consensus. they met in berlin and are headed to washington next week, the french president laying out their goals for when they meet with president trump. very trade, we are both committed to the respect of the multilateral framework and the rules of the wto, so we will advocate for return to the norm and the extension of waivers for the european union. mark: patrick donahue, german governor reporter into berlin is in berlin, given -- in berlin, even that macron has built a report with trump, are there hopes that he might be able to push -- twist the president's arm for trade? seems to have a channel and with president trump. they seem to get along. that is more that can be said for angela merkel who is also making a visit nex

allergan is in early stages of considering a bid of shire stock up 6%.health care and pharma, germany's merck, selling consumer health business to procter & gamble, giving them exposure to key markets like latin america, asia. merck up fractionally on the news that's your european update. >> thank you very much, seema mody. >>> amazon's reach, what 100 million prime subscribers reveals about the e-commerce giant. we'll hear from former treasury secretary jack lew >>> "squawk alley" continues in a minute i we worked with pg&eof to save energy because wenie. wanted to help the school. they would put these signs on the door to let the teacher know you didn't cut off the light. the teachers, they would call us the energy patrol. so they would be like, here they come, turn off your lights! those three young ladies were teaching the whole school about energy efficiency. we actually saved $50,000. and that's just one school, two semesters, three girls. together, we're building a better california. >>> mourners are gathering to remember the oklahoma city bombing

shares of the drugmaker are down in europe after allergan confirmed it does not intend to make an offer to buy the company. yesterday shire reject$63 billion bid from takeda pharmaceuticals. >>> jana partners has taken a 9% stake in pinnacle foods. in a filing jana says it will seek talks on a range of issues including a possible sale of the package foods maker. >>> qualcomm has confirmed they will cut more than 4% of their work force starting in june. the layoffs include about 1200 employees in san diego where the chipmaker is headquartered >>> e-trade are lower today despite the online broker reporting better than expected first quarter results. e-trade added nearly 96,000 new accounts in the quarter. >>> skechers beat forecasts, but the shares are down today. the foot wear maker reported weak second quarter outlook. the stock is down 21% right now. >>> ericsson is on track for the best day since 2008. they reported fi earnings and margins that beat estimates as cost savings from job cuts and restructuring kick in >> big moves in the market so far. >>> still ahead on "worldwide exchan

. >> we've got allergan and ventas and we'll have to discuss apple because they made the top.ts tomorrow they're running the stock up based on the fact that everybody is so negative what a difficult set-up for people to take action on >> that's why we look to cryou. "mad money" at 6:00 p.m. more from the t-mobile/sprint deal you get the one-on-one partnership you need to grow your business. the dell vostro 15 laptop. contact a dell advisor today. well, it'sonce again.eason >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. ♪ >>> good monday morning. welco

allergan said they might make an offer for shire, but then they said they would not.60 billion bid but said is willing to negotiate. trying to reverse its fortunes, the swedish maker of wireless networks posted first-quarter earnings better than expected. the growth margin almost doubled from a year ago. the company is facing a weak market from global equipment, but cut cost cuts and new global lines are helping. one of the managers of the world's best-known clubs is stepping down. downals wenger is stepping and has faced calls to step down in recent years. he last won the premier league back in 2004. that is your bloomberg business flash. francine: this is huge news. there cannot be bigger news in the world of sports if you lived in the u.k. let's get more. he is a little bit of a football fan and has been covering it for us. this is a person that really brought arsenal to fame and then has been more fractious with the fans and the investors. he has been there 22 years. what does it mean for arsenal? ed: 22 years or 20 seasons. there has been a sustained campaign of

stocks to watch, shares of shire are down in europe today allergan said they do not intend to make aner to buy the company. there were rumors that it might. yesterday shire rejected a $63 billion bid from takeda pharmaceuticals. >>> activist investor jana partners has taken a more than 9% stake in pinnacle foods in a filing jana says it will seek talks on a range of issues including a possible sale of the package foodsmaker pinnacle's brands include vlasic pickles and duncan heinz >>> qualcomm has confirmed they will cut more than 4% of their work force starting in june. the layoffs include about 1,200 employees in san diego where the chipmaker is headquartered >>> tile ftime for the executive edge the sohn conference kicks off on monday today we'll look at when-year performance of last year's picks of the conference sometimes you see quick moves on these stocks, but what happens over the course of the year? >> it's amazing as you reflect on the picks of last year. the sohn conference does, as you mentioned, begin on monday in new york some of the brightest minds in the hedge fund wor

the stock price of shy year on the up side after reports that allergan is reports to buy it.rly 7%. >>> 10-year treasury, a key benchmark for interest rates up this morning to 2.91%. >>> now this. 11 republican congressman sent a letter to the fbi asking it to open criminal investigations of james comey, andrew mccabe, loretta lynch and hillary clinton. congressman louie gohmert, republican texas is with us now. louie, welcome back to the show, but, your name was not on the letter. you didn't sign that letter. why not? >> well, thanks for noticing but i read the letter and considered signing on but, we had sent a previous letter goodlatte had authored and we were asking about most of these same things and attorney general's response was, these are things that are looked at by the u.s. attorney. they're within hoover's reach and also with, if the inspector general's report comes back with matters needing to be prosecuted, then they will impanel a grand jury and get after it. so the reason i didn't sign on, i'm waiting to see what the inspector general's report says and we will