we are joined by david pyott and brent saunders. to people close to the company, disappointed in their failure to acquire allergan but said 219 is a big number we had a bigger synergy number they are paying a price we could not pay. how could you justify it? >> fairly negotiated. but most importantly what does it create? one of the fastest growing pharmaceutical companies in the world with top line growth accretion and bottom line accretion. >> again, back to my question, why do you believe -- why are you comfortable playing a high price, one certainly that many of us might not have anticipated a couple of months ago. >> this is the best run company in pharma. i think juf mentiyou've mention many times. for us combine our company with this great company that david and his team built over the years, is a fabulous long-term opportunity to create value for our shareholders. we overlap in three of the four therapeutic areas in which they operate. international operations move into scale, we're able to achieve $1.8 billion of synergies,

. >> brent saunders did a great job. i had mr. likes, a guy giving it all she's got, never enough.ugh for hedge fund. remarkable company. spin off of pfizer. it doesn't matter. there's a man who is a very good -- analyst about what they've done. they are the research leader. but that doesn't matter. allergan was a research leader, that doesn't matter. they never go after pfizer, never go after lilly. they go after winning companies. we should never feel sad for ceos who are well-paid. but i also feel there's a lot of pride. do you go after belichick? shouldn't you go after tom koffman? i'm using that analogy. >> why aren't you going after underperformers? no company that is immune, many spend a lot of time preparing for activist campaigns that never even come. >> right. >> but there's a lot of management distraction, even from anticipating the possibility and then, of course, if one does come, you're spending 25%, 30% of the time if you're the ceo on it. >> mr. liberse. >> they've avoided a proxy fight. plenty of people happy to see what a proxy fight might have unearthed what we m

he told scott he is a supporter of the actavis deal and ceo brent saunders who joined us here yesterdayawk on the street" and will be meeting on friday with actavis management for purposes of due diligence and will become a long-term shareholder. he is getting $129 a share in cash but getting a significant slug of stock in what will be this combined company for his part as we pointed out many times, mr. ackman walks away with a significant profit, $350 million of which, 15% of which goes to his so-called partner valeant. this does appear to be the end of a lot of hostilities. yesterday we did speak to the ceo pyatte an allergan who said he will continue the trading charges on mr. ackman. >> the long-running soap opera. japan looked like the model for economic revital until yesterday. what does japan's recession mean for the rest of the globe including europe which was looking at that country as a road map for success? get to the terminal across town. are all the green lights you? no. it's called grid iq. the 4:51 is leaving at 4:51. ♪ they cut the power. it'll fix itself. power's back o

. >> brent saunders, great builder. >> whether he wants to keep building.say it doesn't fit nearly as well. you can see it right there. up rather nicely in recent weeks. at 15 times, that would get you to $150 a share. this is a company that has yet to do a deal in the last calendar, or 12 months or so. >> but it needs to. >> many people believe it does need to. the question could be asked of actavis as well. do you need to do a deal? >> i will ask him. i'll say you asked in case he takes it personally. >> tell him i sent you. >> i want to ask the softballs. david is throwing you curveballs. >> that's fine with me. he's not talking to me. not sure what actavis is up to. by the way, in our never-ending attempt to inform you, real quickly, two movers. new skin down sharply. you see that? >> yeah, that was awful. >> herbalife yesterday. nu skin today. mondelez up nicely after a strong quarter. >> on margin expansion. not necessarily on organic growth. i'm going to have fred hassen on tonight, the former chairman on the board of avon. i don't know about that di

remember it was brent saunders that ran forest labs when activists took over.an icon selection. now he will lead that combined company. there's the chesapeake ceo. carl icon himself says believe hertz hired an excellent ceo. urges companies to read the press release which you heard from here first is out. but there's a shot of mr. tague. it is an interesting choice and as i said perhaps most interestingly it now sets up perhaps some what of a tussle between icon who has an 8.5% stake. and just filed that amended 13-d yesterday saying that if preferred scott thompson to be the ceo. he is a veteran of the car business. perhaps that's why the folks preferred him. carl icon says this is the right guy to take the top job at hertz and try to turn the company around. the company has had a number of problems. avis out performed that stock over a long period of time. hertz has its man. his name is john tague. >> scott just a question here. they may be changing the leadership of this company but how deep do the problems run? these accounting problems have barely been men