bill ackman, they have 9.7%. >> bill ackman will be joining us at 10:00 a.m. today. >> the work on is a superb. i can't convey enough, if you're part of global wall street worldwide, you have to read matt levine in bloomberg view on bill ackman. bill ackman should read matt levine. >> you have described this as a seminal deal going back to the 1980's. 's idea.is levine we go back to the hostel, true hostile takeover. >> you wonder why more people don't do this and whether it will open the floodgates. no third front-page story, longer union-free. pilots voting -- to join air line pilots association. 70% voting in favor. , there will be contract talks. investors don't like it because the stock was up 2% and once the word got out about the vote, the stock dropped. >> why do i feel squishy if i know my pilot is making $37,000 a year? >> you would rather they make $80,000? >> well, i don't want to pay for it. did we say this on the show like a year ago? >> what? >> airlines are ridiculous. >> with the add-on fees. >> i don't like that. --i don't fly, but >> we scal

bill ackman still on the losing side of the herbalife trade.can't the big dogs get the business done like they did is just a year or two ago? joining us now, raymond james investment banking vice chair. sometimes they do very good things for a company's stock. what about in these cases, the new group of activists who have been around for a long time. bill ackman has gotten extremely emotional but herbalife. >> par this is almost a philosophical question about multilevel marketing where i have a lot of experience personally as an investment banker. it is easy to demonize multilevel marketing and say it is all about the parent company, all about whoever is at the top of the lineup representatives. at the same time we should remember a lot of people generate incremental income, which i know bill ackman has been dismissive of by working seasonally. that is important to a lot of family. liz: carl icahn sees it that way. he backed away frompl s that mean he figured out these guys are not moving an inch on my demand? >> you cannot fight the market in

we are a long way away. >> my agenda item is bill ackman. and pharmaceuticals to make a target of oh allergan, the maker talks. -- valiant pharmaceuticals. -- the maker of botox. ackman took a 9.7% stake in allergan. they went to valiant and said, uy valiant. isn't that the biggest insider trade? 9.7%, you begin the dialogue with the 14% holding. cool. saying,m a guy at home why trust these markets? someone who amasses a 10% stake in a company and then commits another company to buy it? it seems like 1880. >> valiant has offered $40 in cash and 23 shares. share.150 a shar we asked if you were bill ackman, what would you target next? , icahn!swer twitter him a second possibility. martini.wer, a >> it is interesting, a historic transaction. >> you pay attention to what bill ackman does? >> he is not allowed to say. >> we certainly do because that merger is a big part of the debt side. >> think you so much for being here. a great conversation. "bloomberg surveillance" continues on radio. ♪ morning. it is tuesday, april 22nd. you are "in the loo

and today, bill ackman defended teaming up with valiant.insisted there is no frontrunning or insider trading involved. >> the way the rules with, you're actually permitted to trade on insider information as long as you didn't receive the information from somebody who breached the fiduciary duty or confidentiality, et cetera. what we did was say if you can help us acquire allergan we would like to work with you. we said great, we formed a partnership with various terms and gives us the&@nyñ right and position to go buy stake in allergan. >> allergan has adopted a so-called poison pill. a shareholder rights claim that prevents them from buying more shares in the company as the board gets more time to consider whether to reject or get more information on this bid. >>> let's explore a little bit more whether bill ackman's stake in allergan is legal or illegal. let's turn to a former lawyer with the fcc, so adam, is this insider trading and if not, should investors be troubled0]% that it is legal? >> it is trading on inside information, but the

why partner with bill ackman? isa bill in pershing square much better at trading and doing that type of thing. we don't have people with those capabilities. second, we did not have $4 billion to put at risk. mr. ackman and his team have contributed $4 billion towards our cause, they can be an independent voice. they are the largest shareholder we have. thelly, in terms of probability of this deal being done, having a third-party validating our business model that truly believes the combination of this for the short-term and long-term, that is a huge asset. >> the deal is very complex. they basically purchased 30 million allergan shares and announced a plan to purchase the whole company with stock surges. if the deal goes through at the offered price, ackman and valiant will save $830 million on the deal. he explained his thinking this morning on "market makers." fruitful, as we get a we will acquire the underlying shares. this is the exact same economic exposure is if we owned the stock. >> we don't want to partner

bill ackman reminds me of people and some of these attorney generals received $30,000 from bill ackmany back. it reminds me of the people who tried to blame the swire mortgage crisis -- the entire mortgage crisis just on the banks. where's the personal responsibility here in is. liz: again, nobody holds a gun to your head to say distribute this stuff. >> nobody held a gun to say take out a mortgage. liz: all right. so maybe there will be another attorney general who -- >> there will be. liz: charlie gasparino. don't say he didn't tellll you. >>> closing bell ringing in 28 minutes. one of the world's biggest cruise lines making a huge bet on future growth by shifting a gigantic cruise ship to a gigantic country on the other side of the world. which pane making this change of course -- company making this change of course, and will it pay off? ready to speak mandarin? and google's gamble on everything from robots to google glass is costing the tech giant a pretty penny. is google stretched too thin to win, or should it continue to innovate like it has? we'll find out whether google can s

did bill ackman cross a line? some of things that he's able to do, you cannot, including getting and using information that some -- some would say is insider information. is the market free and fair or not? we will explain it and fight it out coming up. my partner ty is out today, so simon is my partner down at the new york stock exchange. hi, simon. >> hi, sue. a lot of peaks and valleys. as you said we're down so far. seema mody is in times square as we start this hour with more on the stocks that quite frankly have taken everyone for a ride. >> let's talk about what's been happening with the nasdaq. even after six days of wins, the nasdaq has only regained about half of the 8% it lost since its march peak. so a lot of the family names we talk a lot about, often thought of as leading indicators have gained the most leading this bounce back. are these the tea leaves that it's back to the good old time for the nasdaq? not so fast say the trader and investors i've been talking to. in fact they've been giving me mix

bill ackman will be our special guest. he's making waves as he teams up with valeant in a bid for allergan. we'll talk about this more coming up, including comments from carl icahn. he was on the opposite side on herbalife. there's a lot of enimity. >> at one point he said i have nothing at bill ackman. he made me $400 million. i like him. >> there's been a lot of bad blood there. >> he was saying in a way he took advantage of him. >>> dow chemical, procter & gamble, boeing, apple and facebook all being released today. a lot coming up. at 7:30 eastern time, the dow chemical ceo will be joining us and we'll be hearing from at&t ceo john stevens. the company says it had a higher than expect ed amount of customers switching to a new plan. if you take a look at what's been happening with at&t shares, you'll see at least it was down by 2% after hours, i think. 35.50 was the last trade. >> yum brands getting a boost from stronger sales. where it's most important, china, the parent of kfc, taco bell and pizza hut says that first

billionaire bill ackman has a new tactic now.lot of them, but now a new one to try to turn up the heat on the nutritional shake maker herbalife which is coming out with numbers after the bell too. a lot of news around herbalife. charlie gasparino is churning out the effort here to break stories on it. he's got them. he's got whether it's likely to work on behalf of ackman and what we can expect from herbalife's earnings report. and later this week, oh, yes, it's time for nebraska. i'm heading to omaha for the berkshire hathaway annual shareholders' meeting. i will, of course, be speaking with warren buffett himself, several of his top lieutenants and a couple of surprise guests. i'll be getting their thoughts on everything from coca-cola to benjamin moore to the greater economy. all kinds of companies. very few people, very few networks get the kind of access. you will get it through us here at fox business. do me a fave, you can tweet me or facebook me, just hughes the hash tag askliz, and you can tell me what you would like to

this is what bill ackman has been waiting on.any who have said he was crazy to do this, it has been regulatory short, you are waiting on the u.s. government to take action. finally it is. mullis and herbalife had spoken proactively, and said you are crazy to be in bed with him on this. now the tables are turning. the one analyst covering left davidson months ago to work for one of the largest holders. >> as part of this ongoing battle between bill ackman and other investors, is there any indication that the company's performance has been slagging? >> not necessarily. everything is saying is fraudulent. it is tough to say, is the company showing signs of weakness? yet to show their sales numbers. that is what he has been asking for for months. it is anonymous distributors who don't have to share numbers of their selling arise. to say how the company does, we have never known how they have done because they have been behaving illegally. >> carl icahn is supposed to be a smart guy. >> 17 million shares. >> a smart investor. you thin

in the last hour we welcomed bill ackman. orge and john stravinsky are here, as well as mike mayo. mike has embraced the trend and is calling himself the activist analyst. we are asking, who else should be speaking up? welcome, mike. you and i have talked about this. there was an op-ed earlier this month in "the new york times," where they made the case that a fringe minority was dominating the activist debate and more people need to participate. institutional shareholders, like blackrock, for example, analysts like yourself, perhaps even the media. is that how you see your self? have you always seen yourself that way? >> thank you for having this panel. thank attention to the comments from earlier, this is my day job. you call it activism, this is our responsibility as analyst investors. just because you have $100 billion in analyst funds, what about the $100 trillion in money under management? i got back from the annual meeting in st. louis yesterday. we have the annual meeting for suntrust. you know how many people asked qu

today, bill ackman scores a victory in his war on herbalife. is investigating the company, according to a person familiar with the matter. they're looking into the marketing practices, which ackman has called a pyramid scheme. he told stephanie ruhle that he is prepared to go all the way in this fight. >> what we focus on is not the stock prices any one day or month, but the business progress. we're telling the story of regulators and making sure they understand what the issues are. they could issue bonds to do it. we were forced out of the trade. we replaced the position with credit default and we keep it going. this is not a trade for me. we will take this to the end of the earth. >> herbalife says it has no knowledge of the investigation. is this finally bill ackman's moment in the sun? stephanie ruhle has been following it closely. >> to call this a saga is an understatement. it was 1.5 years ago. bill ackman has a special conference just for this, to say this company is pure evil. he is going to take this trade to the end of the earth, for

this, went a primer on will get you ready for that interview with bill ackman at 10:00 a.m. this morning. look for those three interviews. -- i havetreated tweeted it out a number of times. host, irwin simon, ceo of hain celestial. i have agreed to do a juice cleanse. >> that will be a painful week for you. a week? >> it could go nine days if you want to do it right. >> china's may factoring sector is struggling. her to sing manager index shows

he is by the way, that being bill ackman.stock, bringing things to the so-called partnership, but it doesn't feel quite right he's able to go out with knowledge that conceivably at some point down the road the stock will get bought by valeant and he had knowledge the fact that they were making the hostile bid. >> i'm not a lawyer but i would say as long as you're working with the attorneys and part of the same group and you are doing this together, then you're able to trade on your own information which is what this is. so i agree with you, it seems legal, but from the outside perspective i understand why people might have questions. time will tell. i think it's very, very interesting. >> it is indeed. jeff smith, appreciate it. hope we'll see you within a year given we've done this on an annual basis. jeff smith from starboard. the fight for darden something we'll be following closely, perhaps in a couple of days, carl, send it back to you. >> david, sounds great. david faber. when we come back stop trading with jim as the s

you have to have a fairly good bank roll. >> icahn also talked about butting heads with bill ackman inover herbalife and weighed in on ackman's bid for allergan. >> you know, frankly, with all the stuff i've said with ackman, back and forth, back and forth, i think he's dead wrong about herbalife and we have our differences but i never said he's not a smart guy. >> right. >> and i think the concept of this is good. i hope it works out better for him. >> and a program note, bill ackman will be on "squawk box" this morning at 7:30 a.m. eastern time. karen, back to you, great to be with you. >> yes. great to see you. thank you so much for setting the scene there, hampton pierce. >>> stay tuned as we hear what the ceo has to say right after the break. >>> ericsson has disappointed investors. sales and profits have both missed forecasts, partly due to weak demand in north america and japan. shares are trading lower, currently down more than 4%. joining us now in our first on cnbc, hans vestberg, the ceo of ericsson. let's start out with your biggest market in north america. you blamed the l

on the one side, bill ackman who really started it all. made some good bets in his past and some ones that didn't work out like, of course, jcpenney, but he does not like herbalife, says it's a pyramid scheme, is very much a believer that it is a huge, problem company. betting against it, shorting against it. on the other side, carl icahn and george soros and a few other names, big believers, impany aly came in after just to take the oh side of bill ackman's trade. but today it is getting hammered in the wake of, first, charlie gasparino's report on this show and he tweeted it that 20/20, the investigatorrive program -- investigative program is going to do some kind of expose. it was supposed to have aired by now as charlie reported, but then at 3:46 p.m., just a few minutes later eastern time, the financial times put up on its web site, who knows, you know? that the department of justice and the fbi are also -- let's put up new skin, too, because sometimes it moves in tandem because they are both multilevel marketers. also down but only b

bill ackman teaming up

. >>> activist investor bill ackman will bring his quest to bring down the nutritional shake company,which we're waiting on earnings, by unveiling a documentary about people who claim to be defruited by the company. -- defrauded by company. ackman claims that the company is operating a pyramid scheme. charlie gasparino is waiting for invite. >>> a movie won't be released until new justice league movie will be released in 2018. david: that is long time. what about investing in pro football player? liz: for the first time ever you will be able to buy an sell shares of 49ers tight end bern none daves. we have the cofounder and ceo of fan tech, the company behind this offering. -- vernon davis. i remember when you first announced you would do this. my first thought, how is this going to work. explain to our viewers how it does. >> first the you know lying security is linked to cash flow by the brand of generated by pro bowl vernon davis. future and current nfl playing contracts and endorsements and appearance fees. importantly post-career, should he become a broadcaster or talk show host

it just makes you wonder if you can buy access like bill ackman has.s carl can along with george -- icon along with george soros, he opportunity even drink the shakes. is it best to stay away from this, david? >> balls and strikes are called properly by the federal enforcement agencies. they're not going to be influenced too much by a congressional inquiry. and i think people should take a careful look and make sure they're making a good judgment, but i don't think the existence of an ftc investigation should get stockholders to shy away from herbalife. >> first, this is going to be a are volatile stock. you've got these titans sort of pushing back and forth. you know, what's the metaphor where you've got a bunch of buffalo, the little guy wants to stay out of the way because he or she -- liz: stampede. >> -- is going to get trampled. you know, diversified portfolio, low cost index fund. liz: good advice. larry white, economics professor, and david balto, antitrust attorney, great concepts, both of you. closing bell ringing in 14 minutes. we've been al

some say that's what bill ackman did. the former head of the securities and exchange commission harley pitt weighs in exclusively about whether or not it's legal. >> very thorny, controversial issue. here's the numbers and all that we have for you right now. the dow, as you see, rallied from the get-go. european markets reopened today after the easter holiday. and they were in a buying mood as well. the european markets were higher this morning. the dow up 96 points off the high. we need to get to 576 for the previous all-time high. so as you said, we're about 31 points away right now. nasdaq up 45 points. once again, the strongest of the major averages with a gain of more than 1%. now at 41, 67, and the s&p at this hour is trading up 11 points. we're trading at 18.83. joining us today, kenny pulcari. steven wood. chris hobard. and rob morgan. good to see all of you. kenny, i am not picking on you. but we do bring you on because you are the resident skeptic here and the market just keeps going higher here. >> it really do

pierson, bill ackman is a billionaire so they got the job done.00, we will do a deep into activist investing. that will be after the interview of bill ackman at 10:00. >> looking forward to that, thank you so much. smellway to see and movies. at4-da front row look technology. we will find out if it is the wave of the future. ♪ >> it's time for today's -350mberg big number versions of the new marvel flick created for worldwide distribution. they cut the number in 17 days. films can come in any combination of 2-d or 3-d or even 4-d. one studio executive said it's controlled chaos. international audiences love ageeing films in 4-d now is bringing new facts into a theater in the u.s.. will local audiences embrace this new technology? jon erlichman went to the 4-d center of california. >> welcome to the movie theater at the future. if you thought 3-d was cool, try adding moving chairs, bubbles, water, strobe lights, the secular and smoke. >> let's do it. >> my theater shaking. >> the company behind this whichlogy isveejay rolled out in its own bitters

bill ackman teaming up with valiant to bid for the botox maker. novartis, lily in a strings of multibillion dar deals. we call it pharma palooza. what does it mean for you? this, folks, is "power lunch." this, sue, is your "power lunch" on drugs. >> indeed it is, certainly today. we have it all covered with a fantastic team. pershing square's big ackman and valiant's ceo presenting their idea before investors and the media in new york a bit earlier. kate kellie has the takeaway. high, kate. >> we're well into hour number two of this investor presentation when we heard from both. big ackman taking the stage for the second time since i've been here just as i walked out. he'll be taking q&a in just a few minutes. a quick reminder on what this deal entails. it's essentially a proposes cash and stock transaction in which every share of allergan would be received for cash as well as a large majority of a valeant shares, a lot of talk from michael pearson today who's been successful in dlirg shareholder returns about the durability of his assets, the pro

bill ackman has an event on friday. also, the investigations are ongoing.many shares they buyback in the future. ,> we have these investigations plus this documentary that you mentioned. what would be the impact of this documentary on, say, law enforcement? >> it is hard to say. i am sure it will be entertaining. they will be bringing some employees in the did not fare so well, finding out they had a tough time starting their own business. the key year is that the critics are going to have to prove, at some point, that new members were misled into believing that it is easy to run the business and two, that the company is highly reliant, mostly reliant, on new member revenues to keep sales going. those are high burdens to prove. >> fair enough. ken, thank you for the perspective on herbalife. coming up, bank of america makes a big blunder. the second-largest u.s. lender had to scrap its capital return plan after inflation. coming up next. ♪ >> bank of america has scrap its capital return plan. the second-largest u.s. lander -- u.s. lenders scrambling to resu

also, bill ackman backed valley and pharmaceutical. going after allergan.tlined his intentions on bloomberg tv's "market makers." >> we are saying that the combined business is a much better business than either business separated. we have committed a large amount of capital to this entity. we have committed to a select stock in the venture. we have a contractual requirement to own it for a year. we intend to own it longer than that. we are a big believer in not just of this transaction and what the company becomes, but we are a big believer what happens when deal two and three and four happen from here. 102, 103, 104. >> bill ackman of pershing square capital with some insight into the evolving landscape of the pharmaceutical industry. somebody who has worked at novartis, merck, and bausch & lomb, dr. flemming omskov is the chief executive of the dublin-based shire pharmaceuticals. thank you very much for being here. let's start off talking about the mergers and acquisitions and asset swaps and sales we have seen so far this week. does this indicate to you

bill ackman said i thought i had a leak. that was the problem. he said it was bigger. they knew what i was trying to do in the moment. >> here is what is important, it is a millisecond. it is not hours later. they get that information seconds before the buying comes in. it is not seconds. the difference between the me,et the investors, you, the guy with a 401(k), bill ackman is seeing, the speed of that market and the speed of the high-frequency traders is a couple of milliseconds. from thenough time computer point of view. one of the reasons the world has organized itself this way is this echo system has sprung up around traders making these profits. their -- have a hard time getting their mind around how a computer perceives time. thoseow a couple of seconds is for computer. how much can be done in that time. so it seems like everything is instantaneous to the naked eye. when you are on your account buying stock, seems like you got it right away. that is not what happens. , the rightwas sold to execute your order was sold by your broker so they could exploit it. in t

conover adds that when activists such as bill ackman get involved in companies... investors start to see more potential. chuck coppola takes it from here with another big pharma deal. chuck coppola takes it from here with another big pharma deal. bill... big pharma works together, separately. stocks moved yesterday on what's being called a major 3-part transaction in the drug industry. glaxosmith kline is selling its cancer products business to novartis for the price tag of 14 and a half billion dollars. novartis will turn over its animal health division to u.s. firm eli lilly for 5 billion dollars. and glaxo will buy the vaccine division from novartis. shares of glaxo and novartis made advancements during the session ... eli lilly dropped 1%.the deals are expected to be complete in the first half of 20-15. another quarter of disappointing results for mcdonald's. fir the first 3 months of the year it reported a sales decline of 1.7%. the world's largest restaurant chain has been struggling for more than a year to introduce new menu items while its rivals did that a

with bill ackman they have a lot more game. >> bill ackman does not work alone.is always sourcing these and then he makes them happen. >> he has an iron got like no one else. this is not a slam down, they have got to get this through the sec. look at his training history, herbalife, fannie and freddie, the automakers. unity government intervention. investors, short sellers and activist investors, would not invest that way knowing how unpredictable the government is. this is not a clear path, they could get roadblocked. yearset with ackman ago. we know more about our name that anyone. no, they said we know more. that level of research. >> i have spent an enormous amount of time with bill, whether he is right or wrong he knows his stuff inside and out. people who have said there are antitrust issues, it does not seem that there are. as far as insider trading goes, you would have to share nonpublic information and there would have have to be a breach of a fiduciary. valeant and ackman have shook hands, they are in for the long haul. >> a great evolving story. >> doe

and tomorrow on squak box we have bill ackman.ouple of big interviews. >> bill does a great presentation. >> yes. >> he is so smooth. >> did you see the slide with the potential targets and rollup targets for valgaen which would be the company. >> my point is that the kind of gain -- >> oh, smart. >> still ahead, we're hitting all angles on the turn around. up next, why the technicals on the chart for one biotech name. later, it's not just apple and amazon dominating the earnings headlines. big name reports on deck for the likes of gm and starbuck's. that's still straight ahead. >>> call it a >>> call it a case of the tuesdays. another day in the green today setting a strange trend. tuesdays in particular in the s&p 500 is more than 8 %. for all the days this year stocks are down around 6%. what? >> guy and i were listening two for tuesday. >> i remember wplj on long island. >> you have seen the entire year's gains. it does give you a sense of how we have reacted going into long weekends. i think it tells you about some of the ner

, hurled it at forest labs, bill ackman to the community pacific.you really go in there -- do perhapsess to with the activist and more to do with the company. >> sometimes. sometimes the difference between amicable activism and other is the response of the company. >> i agree with that basically, but i am not sure that dan loeb changed the culture at yahoo! he made himself $1 billion and that was bill young for him -- >> and then he got out. >> and he made marissa mayer a lot of money, which was great for her. >> it is unclear if marissa mayer has turned the company around. many people think alibaba is the treasurer, and she had nothing to do with that. twice before download -- >> before dan loeb got on the board, he was influential in getting her there. as far as i'm leaving, i spoke to a lot of shareholders of yahoo! when he sold his up to the company and they were like as far as we're concerned, dan can do whatever he wants. he came in here and he really added value -- >> test because morales up inside the company wen-- >> and the stock is up, be

this is what bill ackman has wanted forever. t yourself in a regulatory short, it is a risky trade because you are depending on the government taking action. they are finally taking action. if bill is right, that this is truly a corrupt company, analysts cannot say the numbers look good because according to bill, every number they submit is a lie. the ball is rolling in his corner. he thinks the only place the stock is going is zero. one thing that is interesting is the banker advising herbalife. he has his ipo on wednesday. the question is whether this will affect the timing of his deal. >> thank you, stephanie ruhle. moving and shaking, bill gross. it has been a tough couple of months for the founder of pimco. mohamed el-erian quit unexpectedly. managersf the big bond suffering withdrawal from a hot new strategy. investors are flocking to make money as interest rates increase. unconstrained bond fund has lost $2.7 billion to redemption. similar funds have seen a big increase in deposits. citigroup posting a big first quarter be

separately "the wall street ackman reports bills and carl icahn have made peace.evine "bloomberg view," had a superb essay on herbalife, particularly the cash flow. you worldwide on bloomberg radio and television, simply, new york city, could they be the next detroit? was born thech year fdr became president. he has seen the boom, decide a of bus and rejuvenation of his new york city. truly a primal scream for new york and other cities to get there acts together now and not become detroit. in the larger picture here this is about american fiscal policy. what are we doing wrong? doing what is wrong -- the solution, the bankruptcy in change in the a long that new york city has to budget in accordance with generally accepted accounting principles. never hadrk city has a fiscal crisis since then and nor is it likely to. there will be debates about how much taxes and how much ill never facewe w the kind of problem the 40 -- detroit faces, the inability to pay their debts. >> within the hour -- i want to get it out of the way -- a principal owner of the company, i belie

and another bloomberg tv programming note, bill ackman will be on the markets tomorrow at 10 a.m. n. ackman is making a push with valeant pharmaceuticals to purchase allergen. ♪ >> thousands of people gather this weekend in denver, center park.vic they were celebrating the legalization of marijuana in the state park. the first legal outlets opened this year. envape'sop[ chief revenue officer, todd mitchell. tell me about the company. >> we are about 125 employees in colorado. we license in multiple states around the country. we are in california, washington, soon to be oregon, soon-to-be innd others. we grew last year about 12%. >> in terms of sales? >> yes, and growth of market capture. >> tell us about the product. what are you selling? --it is a vaporizing been pen company. we have a battery attached to a cartridge that is filled with cannabis oil. you're able to vaporize that at a certain temperature. the battery heats the cartridge and the cartridge produces vapor. >> and this has been approved for medical use of marijuana? where they only have medicinal law, then that is wher

. >> bill ackman and others are doing today -- in your opinion, is this any different from what was goingn in the 1980's? >> no. why do you think it is different? media, are embracing the using the media as a tool, coming after each other. >> yes, i did. i took interviews and everything else. i was described as, you know, a raider. i put my money in. these guys running the company, they did not have any stock to speak of. >> so when you see what carl icahn and bill ackman and the others are doing, the way they are conducting their businesses, do you think it is a good idea? >> sure, i do. it creates value for the stockholders. wait a minute. in -- >> youte magazine that" carl icahn is the best thing going. a lot of people would say that carl icahn is the best thing going for carl icahn. >> he is a stockholder. how would they respond to that? >> what if they make money in six months, but two years later, what the company did in order to make sure holders money in the short run turns out to be a bad idea? they are there for the long term. sure, they are. they are not shareholders. sharehold

plus, i will speak to a ceo on bill ackman, who just completed a deal of his own. and we will talk to the executive who makes teeth. all of that and more over the next hour. at first, the headlines with my colleague, su keenan. but thank you, mark. >> thank you, mark. president obama expressed some doubt over the accord over ukraine. >> i think there is the possibility, the prospect that diplomacy may de-escalate the situation and we may be able to move to what has always been our goal, which is to let the ukrainians make their own decisions about their own lives. >> the u.s. and its european allies have threatened to ratchet up sanctions against russia if it does not act to calm the situation in eastern ukraine. meanwhile, herbalife is back in the headlines again. it is under investigation by attorney general lisa madigan, who joins a growing group who are looking into complaints. herbalife responded by saying "we are confident in the integrity of our long-standing business and the company's compliance with applicable laws and regulations coco those are the top he

and another bloomberg tv programming note, bill ackman will be on the markets tomorrow at 10 a.m. n. ackman is making a push with valeant pharmaceuticals to purchase allergen. ♪ >> thousands of people gather this weekend in denver, colorado's civic center park. they were celebrating the legalization of marijuana in the state. the first legal outlets opened this year. joining me now is openvape's chief revenue officer, todd mitchell. tell me about the company. let us start off with the scale of the company. how big is it, what are its products, and what has happened in the last 12 months? >> we are about 125 employees in colorado. we license in multiple states around the country. we are in california, washington, soon to be oregon, and colorado and soon-to-be in others. we grew last year about 12%. -- 1200%. >> in terms of sales? >> yes, and growth of market capture. a pretty fascinating 12 months. >> tell us about the product. what are you selling? >> it is a vaporizing pen company. we have a battery attached to a cartridge that is filled with purified cannabis oil. you're able to

bill ackman pursuing a takeover of allergan.bc contributor herb greenberg who has covered these companies extensively. herb, your initial thoughts? >> i did a piece on whether valiant will overdose on acquisitions. this is just back in january. people don't know valiant. valiant is a huge rollup. you have to understand this, of drug companies. its goal is to have $150 billion in market cap over the next three years. allergan is $42 billion in market cap. valeant is $42 billion, so that gets you to 80. they said they wanted to do a merger real soon. this is that merger of equals. >> what do we make of the fact the stock is higher? generally, when you see a company get acquired, the stock moves higher, but valeant has moved higher by 10%. why is that? >> this is fitting with the strategy people expect for the company right now. i think this is also going to start shining a bigger spotlight on valeant, and so, i think going forward after the sort of dust falls from this, people will look at valeant, look at the balance sheet, looki

. >> so stuff like icahn and bill ackman and others are doing today -- in your opinion, is this any different from what was going on in the 1980's? >> no. why do you think it is different? >> they are embracing the media, using the media as a tool, coming after each other. >> sure, i did. i took interviews and everything else. i was described as, you know, a raider. who is the raider around here? i put my money in. these guys running the company, they did not have any stock to speak of. >> so when you see what carl icahn and bill ackman and the others are doing, the way they are conducting their businesses, do you think it is a good idea? >> sure, i do. it creates value for the stockholders. -- shareholders. wait a minute. what does long-term mean? >> you wrote in "time" magazine that carl icahn is the best thing going. for corporate america. a lot of people would say that carl icahn is the best thing going for carl icahn. >> he is a stockholder. stockholders make money off of icahn. how would they respond to that? >> what if they make money in six months, but two years later, what the compan

well-known activist investor bill ackman has botox maker allergen in his site and is joined forces withmaceutical to buy allergen. it is valued at about $46 billion. he already owns 10% of allergen shares. comcast is defying the trend in cable tv. the country's biggest cable operator is adding video subscribers for the second straight quarter and comcast reported first quarter profit that beat estimates. the supreme court has struck a blow to supporters of affirmative action. the justices upheld the michigan ban on using racial preferences at state-run universities. the vote was 6-2. >> right now, the u.s. supreme court is hearing arguments that may decide the future of television as we know it. at odds is the legality of aerio and the legality which the big broadcasters say infringes their copyrights. ceo.oke with the aerio what if you tell you? chet said that he believes he will win this case. you spoke with barry diller who backed aeerrio who spoke about this case. he said it's more of a 50/50. this is a david and goliath fight. goliath aserio and the broadcasters, abc, cbs, nbc and

volume, just to give us a sense, many say bill ackman was crazy to begin with.ased on what the government is going to do is a tough that. how many investigations do they do in a year? what this into context. -- put this into context. lot ofgovernment does a investigations a somewhat as reported in the press are what they may hear on television shows like this. or based on the word of an anonymous tip. they have the responsibility to look into serious allegations. the concern here maybe the government is somewhat concerned about doing the bidding for somebody who has such a strong economic interest in the outcome. >> the loudest tip ever, though ackman screaming from the top of the empire state building. the former senior counsel at the department of justice. the seven sins of wall street. i just wrote about them in a new book. we will see which ones your bank is guilty of a. >> hopefully none. we will be back. you're watching "market makers" on bloomberg television. ♪ to "marketckkers makers." i want to talk about your book. no one loves the seven deadly sins mo

longtime shareholder in the mortgage finance giant eared t.crease of bill ackma he agrees with bill ackmaners have been used and abused. they were thrown into a conservatorship in 2008. right after the chairman of the federal reserve assured the shareholders of fannie and freddie that the companies were rocksolid. took weeks later, they over conservatorship and the stocks plunged. they deceived the shareholders. corporations did that, the sac would d get after them. this needs to be cricket. along with much stronger regulation of fannie and freddie and enforcement -- >> taxpayers buildout these companies. why shouldn't they be the ones who benefit from the process? get first call. they have paid back more than they have supported fannie and freddie. the profits of fannie and freddie are huge. the taxpayers have been paid back. all the profits are going to keep the deficit down. the shareholders are still in limbo. that is not there. >> if the taxpayers and that step in, there had been no value whatsoever. once again, why should those shareholders were there before the crisis happened -- >>

this would be joe with bill ackman's hair.t figure out why bill ackman hasn't gotten back to us. gee, go figure. that and more at squawk.cnbc.com. ♪ come and save me if you wear a denture, take this simple test. press your tongue against it, like this. it moves! do you feel it? it can happen with every denture. these movements may irritate your gums. but you don't have to bear with it. you can try fixodent plus gum care. thanks to its formula, your gums become one with your denture. this helps stop movement and helps prevent gum irritation so you can keep enjoying life. [ apple crunches ] fixodent. and forget it. so, what'd you think of the house? did you see the school rating? oh, you're right. hey, babe, i got to go. bye, daddy. have a good day at school, okay? ♪ [ man ] but what about when my parents visit? okay. just love this one. it's next to a park. [ man ] i love it. i love it, too. here's your new house. ♪ daddy! [ male announcer ] you're not just looking for a house. you're looking for a place for your life to happen

bill ackman is behind the push to go after high frequency trading as well. again the axe man-schneiderman connection. ackman has given a lot of money to schneiderman. i'm very dubious. if the sec came out tomorrow and we'll study fragmentation. we'll discuss about the fact you trade a stock it can go to 50 different markets. they have not done it. high frequency trade something a pimple. melissa: all of you stay with us. we'll head to the markets. china's answer to twitter having a big debut at nasdaq. jo ling kent is all this for us. >> melissa, china's answer to twitter, up nicely up about 33% right now. and it is growing. but this company post ad net loss last year. it has about 144 million monthly active users, actively being censored on a lost controversial topics especially politics and the economy. this led to a drop-off in user growth and to what is much like what's app. the success for weibo, has twitter was blocked in china. week bow launched in 2009. this was about the time twitter was going mainstream. looking at the numbers on monday, weibo said

bill ackman and valeant farm suit kls teaming up to buy allergan. david. >> this is a fascinating story and one of the first times i can remember at this point seeing an activist teaming up with a large corporation to mount a hostile bid. that is what this is. in fact, as i have been reporting or at least we have been reporting, the board of valeant expected to meet this evening. there will be an offer made for allergan tomorrow morning in conjunction with this filing by mr. ackman that we have gotten today. the leaks of which started around 4:01 or 4:02. take a look at allergan stock price to see what it has been doing as ackman's purchasing square bought a good deal of stock. crossed the 5% threshold about ten days ago and had that window to ramp up to get near 10% stake. for valeant which is the aggressor here, this is the company that continues to acquire. when it does so, it acquires a company. it cuts out all of r and d and guts a lot of the cost structure of the company and benefits from having a non-u.s. tax regime. it is not a u.s. tax file