tiaa-cref is buying nuveen investments for $6.25 billion. the acquisition is the largest ever by tiaa-cref and will put it into the top tier of u-s mutual-fund firms. tiaa- cref's business is primarily focused on financial services for the academic and non-profit sectors. nuveen specializes in affluent investors. nuveen will operate as a separate subsidiary within tiaa-cref. facebook looks to post a lot more than just your status updates. the social media site is reportedly seeking regulatory approval to offer financial services -- allowing users to make payments and transfer money. according to the financial times, facebook is seeking that approval in ireland. a decision is expected within a matter of weeks. a rep for facebook declined to comment. facebook shares were up 36 cents yesterday on the news. twitter's top executives have no plans to sell any of their shares. according to a regulatory filing neither of the company's two founders nor the ceo have any such plans when twitter's post-ipo lock-up expires on may 5th. twitter shares rose

iaa cref financial 6.25ng nuveen for billion. what does this mean for them?they will be one of the top 20 managers in the world. they would have $800 billion under management. what it really means is they are able to offer other products, products they are not able to offer and could expand appeal offer.the current they are known for having very good distribution relationship. >> madison dearborn is the private equity firm. what are they looking at? >> this is a really tough deal for them. they bottom of the financial -- the height of the buyout limit just before the financial crisis started. result, they paid a lot. this can help the asset management business quite a bit. because of that they had to do a lot of work on the investment. they are selling it today for about 6.5 billion. when you do the numbers and math, they are about breaking even. maybe breaking even losing money. we do not know because the numbers are not public. >> what does this mean for financial and institutions. will we see more? >> dealmaking has not really recovered since the financial

tiaa-cref buying $6.25 nuveen investments.. >> ever. >> the transaction will create a firm with nearly $800 billion under management. moving tiaa-cref up the ranks of one of the biggest asset managers. >> it will do a little bit better than break even. >> all right. we have another monday morning mining deal to tell you about now. glencore xstrata sells las bambas. ♪ that's not la bamba. it is las bambas. >> the ukraine. >> it's not ukraine anymore, guys. >> down markets are currencies and gold to the move. look at the euro. there's no reason for that. gold up 2.8. managing director on the pks and president and ceo at boston advisers. cathy, i kind of read your stuff and i don't know. i think you're right. the decline in u.s. yields making the dollar less attractive. and then investors are unimpressed by u.s. economic data. so the journey to 3% plus, we may hit a couple of, i don't know, detours. >> yeah. absolutely. as you said, every single piece of good u.s. data last week, investors completely ignored. while we have high e

tiaa-cref. bob pisani is here to talk about both those stories. >> we needed to get a good number on retail sales. the economic data hasn't been that great recently, manufacturing services numbers weren't that great. we need a strong number, better than consensus. we got it today, and that's one of the main reasons the stock market is up. i'll show you some sectors of the retailers moving today. general merchandise was up strong. that's everything you buy at walmart. family dollar, target, these are all the discounters. another sector doing well was the home improvement group. that will be everything you buy at a lowe's sherman williams, stanley, black & decker, all those stocks are to the up side. another sector that was strong, furnishings, including furniture, that was up 1%, so hafer, ethan allen, bassett furniture, all of them to the up side. tiaa-cref, this is a big asset management play, so we're talking about long-term value. they typically charge 1d%, that's billions of dollars that add

. >> tia-cref is traditionally known as a retirement plan for new teachers.w deal will propel it into the top 20 of all u.s. mutual funds. sales warming up in the month of march as sales climbed, biggest gains if it is september, 2012. and disney was approved by the majority of shareholders for a last-minute offer of relativity media. that deal is exacted to close in the next few weeks. >> thinks very much, carol massar. my next guest went from the dog eat dog world of wall street to the downward facing dog. yes, yoga. rishi bali worked as a derivatives broker. last year, he established yogasmoga, a retailer of yoga apparel. we've got to start off talking about where yoga comes from. i was looking at your career and you have come full circle, haven't you? x yes, i was born in india and i grew up in india and i came to new york to go to college and subsequently go to work for goldman sachs. while i was in india, i was looking at the yoga market, and just yoga as a lifestyle. i felt that there was a great value i could add, because i had the culture of yoga and

dan morris from tiaa-cref. thank you so much. stay with us.heck on the market movers is on the other side of this break. ♪ >> get the latest headlines at the top of the hour on bloomberg radio and streaming on your tablet and on bloomberg.com. that is it for this edition of "bottom line." i'm mark crumpton. thanks for joining us. on the markets is next. i will see you tomorrow. it is 56 past the hour. which means bloomberg television is on the markets. the stake you look at where stocks are trading right now. we do have some declines today. we're seeing a pull back -- i do want to talk about commodities as well. gold prices, we can start there. we have seen a bit of an upward trend in gold prices. we have been seeing a more downward trend more recently. if you look at what's going on with oil, interesting report coming out on oil today talking about where inventories -- we're seeing them at historic high levels in the u.s. oil was trading down $100 a barrel. let's talk about these inventories. what is driving them to these historically high le

liz: tiaa-cref buying asset manager, nuveen investments. price tag, $6.5 billion. the new firm will have $11 billion under assets in management. adam: gm replacing human resources and executives. as g-m fights a pr nightmare over the botched recalls of cars with faulty ignition switches. "after the bell" starts right now. liz: well, if you weren't paying attention in the 3:00 eastern time show, that you missed all the fun. actually it wasn't that much fun to see stocks lose much of their gains. but stocks back up in the green today. we break down all the action. jason rotman, managing partner who says investors should look to buy companies that are at a discount right now. pickings are slim lately. we have al frank asset management's chief investment officer to tell us where he sees most value in the market. larry shover in the pits of cme. talking to traders at top of my hour just an hour ago. they all believe the russian jet that buzzed u.s. warship, at least news that came out that happened over the weekend, bevel hit the markets and markets were covered. whatwh

it brings tiaa-cref to $$800. they continue a big player with over 40% of assets in that area. meantime, glencore xstrata selling off its la bam bas to a chinese consortium for $5.8 billion. one more deal that broke a hostile in bermuda ens. >> really? >> yeah. bermuda insurance, that's where they hide. >> they propose to inquire 47.50 in cash and stock, a 50-40 split stock and cash. they would raise about a billion dollar additional cash from issueing shares to cdc capital partners 1.5 billion. to engain with aspen a confidential and friendly dialogue of the xa companies, but, of course, they haven't been able to. they come with a pullout on a hostile bid of 47.50 a share. .8826. let's keep an eye on shares of endurance this morning, see how that performs and what the responses they're saying overall. the premium to the closing sare price on tried. >> what's the history of hostiles. >> it's a book value. >> interesting you say that, in fact. that's right. allegheny is buying, bought transatlantic in november of '11. i believe both began as hosti hostiles. >> they were all domi

if you want to buy a managed cref, that is fine. ref,equity part of tiaa c the stock side.y 75% related to the index. they have a correlation with the index of maybe 92, 93%, and pretty low cost. not quite by vanguard standards, but they ought to get there because that is where the competition is. a middle-of-the-road fund with low cost, low transaction activity, focused on the long-term, has a fighting chance of beating an index fund. i do not think the chance is good but there is a chance. i am trying to square a circle here, put your comments together with gene's and bob's, this.entioned it boils down to the average. therefore, your approach is to accept the average at low cost. gene's approach is to tilt towards certain stocks, in his case, value in small stocks. i am wary about putting words in a low bond -- nobel laureates mouth, but i think i am doing ok, but with the idea that you can do better in the market. bob schiller's approach is approach, gene and my but neither the three of us -- i am a quant, and i just counted wrong. we can get away from the fact that the