i like what hillshire is doing here.n the other hand i think they are a better opportunities out there. i totally recognize that hillshire was, i think, in the cross hairs of some companies. for me the real take away from the pinnacle deal. other similar companies like b&g foods. b&g is just like pinnacle. they acquire unutilized brands and breathe new life in them. ortega taco shells, pickles. baked beans. how about this one? maple grove farms of vermont syrup. they look so much alike. stock struggled of late, but you are getting a good entry point. the company is able to put up 15% revenue growth. stock has a bountiful 4.2% yield. b&g is paying handsomely away from a potential takeover. they made acquisitions. organic growth not too good, but these look a lot alike down to the salad dressing components. if b&g is not sexy enough for you, there is white wave foods. organic milk and coffee creamers and plant-based nondairy alternatives like the soy in the amazingly white-hot almond milk products. stock up 79% since put u

hillshire says it is thoroughly reviewing tyson's offer.no question the food section is hot for deals. >> the deals, to off set pilgrim and tyson, they have transformed their balance sheets in the last three to five years, so they're in a much stronger position than they have been. >> so what impact would this deal-making be on the consumer? >> if all the energy that these companies expect from the deal actually come through, you know you would hope eventually that prices may even be lower to the consumer. >> the next move may come from pilgrim's pride if it decides to raise its offer to beat tyson. the investors certainly see the potential for a bidding war. in fact, shares of hillshire surged on wall street today indicating that investors see this company fetching a higher price. for "nightly business report." >>> still ahead, apple shares rally today on news of its beef acquisition. but does the company have a new innovative product in the pipeline to get investors really excited? >> . >>> a french bank may have to pay a big fine for ign

apparently takeover target hillshire brands has the answer.s us why he sees good things for the stock. and apple will introduce the tech giant to the internet of things. can the iphone maker catch p to google? -- catch up to google? our panel weighs in. ♪ ♪ [ the human league's "human" plays ] humans... sometimes life trips us up. sometimes we trip ourselves up. and although the mistakes may seem to just keep coming at you... so do the solutions. like multi-policy discounts from liberty mutual insurance. save up to 10% just for combining your auto and home insurance. call liberty mutual insurance at... to speak with an insurance expert and ask about all the personalized savings available for when you get married, move into a new house, or add a car to your policy. personalized coverage and savings -- all the things humans need to make our world a little less imperfect. call... and ask about all the ways you could save. liberty mutual insurance. responsibility. what's your policy? ♪ ♪ lori: and as stocks are climbing their way to new record hig

hillshire's stock surged 22% on the news. as compared with falling more than three-percent may 12th-- when the deal for pinnacle was announced. pfizer is dropping is its bitter bid for astrazeneca. pfizer made a $117 billion dollar play for astrazenca.... or roughly $92.50 per share. azstrazenca wanted something closer to $125 million or $99 per share. the deal could have provided pzfizer a break on u.s. taxes since astrazeneca is located in the uk. analysts believe the bidding may not be over. sony's animated films are coming soon to netflix. the two companies have inked a deal that will give netflix the rights to sony titles including cloudy with a chance of meatballs 2 and the smurfs 2. currently starz and sony are locked in a deal, however because children's programming is less popular on starz, it gave sony permisson to find a new home for animated flicks. music streaming service spotify is taking precautions following a hack attack. the service is automatically signing out all customers this week-- who will be asked to

. -- hillshire. they are said to have removed morgan stanley as lead underwriter after learning the bank helped tyson makes the offer. two days ago pilgrim's pride made their own bid. ford said it is recalling 1.1 million sport utility vehicles to fix sensor electronic flaws. 915,000er recall covers ford escapes. that is a look at your top headlines. back to you. foods.s begin with tyson it's offer to buy hillshire brands trumps a competing bid from pilgrim's pride. joining me, chris leonard, the author of "the meat racket." akshay, i want to begin with you. what are the strategic benefits for tyson's to make a bid for hillshire brands. me on.k you for having it makes sense for tyson for a couple of reasons. they are diversified proteins manufactured. they produce chicken and pork products. those are raw materials for hillshire. there'll be some cost synergies they are. tyson under new management recently has embarked on a value added growth strategy. they want to build their brand and business. shir

hillshire is buying pinnacle. it's not the other way around. it's important when you look at it in that context it may very well be that hill shire was making that transaction defensively. >> you just said that. if they heard about pilgrim's pride, they went and got pinnacle. >> i just wanted to make it -- >> they need to buy a european company to get a better tax rate. >> we already said that. >> i wanted to make it crystal clear. >> even though pinnacle announced it was really hillshire. >> coming up, a live report from kiev. what weekend elections mean for the future of ukraine and global relations. ♪

the stock, hillshire stock up 17.5% today, tyson up 6.5%.nice to be the prettiest girl at the dance because you've got a full dance card, and you can look at all the offers. liz: and the same thing's happening with the french gigantic company that ge and -- >> ge just recently upped its bid on that. liz: makes it enjoyable for us to watch. >> it certainly does. liz: thank you, ashley webster, on the big food fight. we did think we'd take a bigger look at food prices for you. many of the companies you own use things like corn syrup and corn whether it's an energy company or a food company. corn prices are actually down today near a 12-week low and headed for the first monthly drop since last june. it's feeder cattle hitting another record high. you can see feeder cattle, that's the price for cows that are near slaughter, closer to what restaurants and diners pay. and for more, let's get to the floor show. nicole petallides and traders at the new york stock exchange, cme group and nymex. john corpina, obviously, maybe if things continue for th

still ahead, it's hillshire brands today. but who could it be tomorrow?en takeover targets. what names do they have to add to that list? straight ahead. josh brown is pounding the table about one stock he says is on verge of a monster breakout. he'll tell you how he's trading it and what it is, next. [ female announcer ] the sun powers life. ♪ and now it powers our latest innovation. ♪ introducing the world's only solar-powered home energy system, which can cut your heating and cooling bills in half. call now to get up to 1,700 dollars back or special financing on select lennox home comfort systems. offer ends june 13th. plus download our free lennox mobile app with an energy-savings calculator. if your current system is 10 years or older, start planning now and take advantage of special financing. so call now to get up to 1,700 dollars back or special financing on select lennox home comfort systems. offer ends june 13th. and download our free lennox mobile app. lennox. innovation never felt so good. >>> good afternoon, everybody. i know you'd rather be s

angie, hillshire brands suddenly becomes a hot takeover target. tyson foods, a titan in the meat industry, is now throwing its hat in the ring to buy hillshire. tyson is bidding 50 dollars per share, or 6.8 billion dollars, topping an earlier bid by pilgrim's pride, of 45 dollars per share, or 6.4 billion. pilgrims is owned by brazilian meat company jbs. hillshire shares soared 17% yesterday. it's setting up to be an agressive battle. "this is not a no brainer there is no easy winner that you can point to in this fight, but tyson is certainly going to be aggressive in their bidding and its not going to let such a large competitor slip away so easily to another company like jbs." christopher leonard, of the new america foundation says it's possible cargill or kraft could swoop in with more bids, but adds tyson has more motivation to protect its market share. president obama is going it alone on combating climate change... he's expected to come out with historic sweeping reforms monday that will limit carbon dioxide emissions from power plants. it w

an all-out bidding war for hillshire.yson makes an over-the-top bid after pilgrim's pride offer earlier in the week the catch, hillshire's own bid for pinnacle, come on. that's over and done with. the u.s. economy shrinking by 1% in the first quarter. a bad gdp number but a four-day win streak. that was also snapped. let's begin with carl, he is at the code conference and let's get more on this apple/beats deal, a deal we heard about a couple weeks ago that came together i guess late yesterday, carl. >> that's right, david, called the most scrutinized it tech deal in recent memory and even though it is apple's biggest deal in terms of acquisitions it was the single biggest headline out of the code conference this week. eddie cue who runs apple's media business and jimmy i owe veen sat down and talked about the rationale for the deal, namely i owe veen's ear for talent and sound, but also that human cur rags which is really what sets beats apart from other radio services. the conversation, though, quickly turned to a coupl

shares of hillshire brands up 21%.ausages for $45 a share in cash. dow components disney and travelers hitting new all-time highs. to david faber. >> thanks very much. my next guest began his career in wall street as a credit analyst, senior m&a adviser at ubs before founding his own firm liontree. he's always been focused on media. he advised charter communications on its failed bid for time warner cable and successful negotiation to get 4.1 million subscribers if and when comcast succeeds in buying time warner cable. >> thank you for that introduction. >> you're welcome. i remember you when you covered credit, adelphia way back when, you played an important role in uncovering that fraud i guess in many ways. let's get to the present day. comcast i mentioned it. new york times says we're against the deal, market power, broad band, comcast will get too much concentration. how significant is the problem or opposition going to be for comcast? >> i think david and brian have been speaking on behalf of comcast and publicly

they're going after hillshire to combine their chicken products and prepared foods with brands like hillshire farms, kielbasa, prepared meats and remember jimmy dean's is a big part of that mix as well. they're paying a lot for it, but still it's a combination they want to do. now, pilgrim's pride is a lot like tyson, although perhaps on a little bit of a smaller scale. they do fresh and prepared chicken products as well. and they want those same processed meats. that hillshire farms brings. that's why they want to bid $45 a share for that. they want to combine these two particular brands. again, it's all about these brands. and then we can't forget that's happening really on the pinnacle foods side of things because you're talking about a company with pinnacle foods that has brands like vlasic pickles, log cabin syrup, bird's eye vegetables. what they're trying to do is join up because hillshire wants to buy them. but in the end it's really all about what's happening with these brands because stephanie link, i was just chatting with her about our little food setup. she says that basically ty

we're not talking about tyson, hillshire, right? girl at the dance that everybody wants to dance with. that is because you had pilgrim's pride interested in hillshire, tyson says we're interested. they're battling it out. and what happens to pinnacle foods? it's down 6% for the week and this was on the idea that hillshire was moving forward with pinnacle. that's something we've been watching very closely, and we've also kept a close eye on valiant and aller again. intraday highs, i won't say record highs, but it moved today above $170. there it is. liz: up about 5.5%. valiant, i'm just looking, was down slightly. well, yeah, it's not really moving too dramatically, but now it has reversed. it had been down slightly, now up about 1.5%. nicole, thank you. >> thanks, liz. liz: i'm sorry, we're going to have a huge rivality when -- rivalry when the kings make it. l.a. and thy, what a great rivalry -- and new york, what a great rivalry. if you think brick and mortar schools are old school, think again. gamestop is investing in cutting ed

the pinnacle deal but plans to review hillshire's proposal.ilgrim's pride rose while shares of pinnacle fell. >>> now to china, where officials are pressing banks to replace high-end servers made by ibm with chinese-made models. the move comes as beijing and washington and espionage is at issue. >>> and investors paying close attention to the ukraine after a billionaire businessman won this weekend's election. the hope is petro poroshenko can restore the working relations in his country and have a better working relation with moscow. more from kiev. >> reporter: here in ukraine, violence continues on tuesday in the eastern region of donetsk where the government now is trying to reclaim control of not only the airport but indeed the entire region, which was reluctant to take part in the election. the election which gave an overwhelming mandate to president-elect petro poroshenko, there are concerns that relations with russia are still very poor. in fact those concerns were shared with us by jeffrey piatt who is the u.s. ambassador to ukraine. >

and this is something that hillshire was going after.nk this is the way that all of these guys are looking to expand. mondelez, could be in play or taking over. pinnacle which has come back down is absolutely still in play. if anything, i would look at pinnacle here. because the value there that hillshire saw in them, i'm not saying that someone else can buy the same thing they were about to pick off, but i do think this is an interesting target for the same reason that hillshire was there. >> have you seen elevated activity in any of these stocks? >> yeah, in fact, i was in this one, hillshire until i got in a week ago today, mel, they were buying july 35 calls as it explodes through 52 today, it's a 17-point game for these things. it was a fabulous ride. got two nice rides out of it. one that ended on tuesday this week, another one today. i think the space, i think, tim's dead on. you want to be in this space. >> that's a serious endorsement. >> it's serious. >> this reminds me a little bit of when they took on anheuser-busch. >> yep.

hillshire wouldn't have gone out at $52.76 off the $50 bid, up to $74 in a totally heated session.n retrospect i shouldn't have been surprised. both are commodity players in the end. commodity players in the food aisles. they need more left to deal with their customers. the behemoths like kroger and safeway. you get that left, take out some cost. you can make a lot of money while giving share holders the early shares. even though tyson is willing to pay $5 more per share for hillshire and $18 more than it was trading this month, the deal would be enough. raising numbers for 2015. i have to tell that you this level of fevered bidding after a long dormant market is extraordinary. you're going back to the 1980s. the consumer bids takeovers. to call thing like this stupendous and furious. give me a break. i'm in a supermarket. these were the days when you just expected bids for soup marks. pills bury, general foods, it doesn't matter. too many to name. we did and we must cash in on it. until today, we thought all of this incredible takeover action began when hillshire launched the bid

this is pilgrim's pride, hillshire. $45 per share. important piece in all of this of course is there was another transaction on the table with pinnacle foods. this now making it a bit of a competitive situation. >> a bidding war. >> it represents 25% premium of the volume weighted average price. >> hill shire closed at 37. >> we had pinnacle on. >> we did. >> he made his case for -- remember, we were frustrated. he didn't answer a lot of our questions. >> that's true. >> you can see it's a lot more money than pinnacle. >> $8 on this news. >> they are claiming $25 premium to the pinnacle offer. the premium to the 10-days trading. >> 25% where it traded after the pinnacle announcement. exactly. >> so just to be clear, the pinnacle deal was $18 in cash for each share held along with .50 shares. the reason it suffered is because of the shares of pinnacle. you can see huge moves there. >> are done with bernstein? >> jared thinks the economy is still falling apart, right? you're looking 4% second quarter. he's still out there. >> what do yo

at lo of people with swarming around the potential victim hillshire at this stage.ack to you. >> this other story that caught our attention, this bait and switch with southwest airlines. they're now being fined for putting out deals that weren't really available to their customers? >> this one drives me nuts. i don't know about you, but i try and book occasionally those value carriers here in europe. and they always advertise really good deals. then when you get on the website, try and find it, it's never on the day you want to travel. it's never the time you want to travel. you think well, where is that ultra-low deal when i'm searching for it. that's the deal here. they've been fined $200,000. the claim is that they advertised a $59 flight that couldn't be found when the department of transport went on their website and started looking for it. the trout was atlanta, chicago, new york, or los angeles. apparently there was nothing available at $59 when it was sought. so they're going to have to pay $22 $200,000 for that. >> have a great weekend, sir. thank you. >>>

there is a battle for hillshire brands. tyson foods made a $6.8 billion offer.'s favored corndogs. stock is trading well above the $50 offer price at the moment, $52.87. $52.27.ket expects -- - the market expects someone else to come in and bid. companies made fewer investments and added to inventories at a slower pace. another sign the labor market is getting stronger, more current information. there were fewer first-time claims for jobless benefits last week than economists had estimated, the lowest level in 6 1/2 years. looking at these very recent weekly jobless figures, perhaps a little more encouraging. >> now let's get back to the study of human behavior. is high-frequency trading a form of cheating? we have our guest host for the hour, duke behavioral economist kevin.ely, and let's start with you. when we talked about hft, everything was about speed and getting an edge. is it ok to get an edge? >> sure. this is a competitive marketplace. everybody is trying to get an edge. it is about making money and whatever that takes. there will be some big -- bad pe

analysts say the deal will give hillshire a larger presence in food aisles of grocery stores. "what that's going to do is it'll give them a little bit more clout with the food retailer, and will particularly give them clout in the center of the store which is a key battle ground area for retailers." hillshire sold off sold 3%., even though the ceo says the deal will immediately add to earnings. pinnacle stock rallied 13%. a top critic of obamacare leaves his job and will now help -- push obamacare. house speaker john boehner's spokesperson, brendan buck, is leaving the speaker's office to become vice president of america's health insurance plans. the insurance trade group has supported obamacare. speaker boehner praised his outgoing staffer, saying buck was critical in - quote - "holding the white house accountable." a new drug that lowers the risk of heart attacks gets the approval of the fda. the drug-- zontivity--- reduced the rate of death from cardiovascular trauma by 17% in a 3 year study. the fda called it an important advance for patients who have survived heart attack

tyson foods making a takeover offer for hillshire farms.t this means for investors and minuanyone who eats. and we're about two weeks away up the world cup. will brazil be ready. there are increasing doubts. we speak to one person who is neck deep in it and he says no way. now back to scott on "fast money". >> thanks so much. another big move in bond yields today. the continue yeten year falling lowest level in a year. what do federal reserve policymakers think. we have skrefry lahave jeffrey today. steve, great day to have mr. lacker. >> yes, thanks very much. i'm here at the central banking conference and there are a lot of important policymakers here and i have one right next to me. jeff, thanks for joining us. >> great to see you. >> let's talk about the news this morning. minus 1% gdp first quarter. how concerned are you about that? >> not unexpected given the data flow we've seen. not too concern baud there are a lot of transitory factors at play. they will reverse and unwind in the second quarter. >> is this all weather, and if it's

the buyer, hillshire is buying pinnacle, trying to break that deal making a deal for hillshire.agreement has the opportunity to its board to review what it might view as a superior proposal. $45 a share. all cash offer. pilgrim's pride controlled by the brazilians. >> right. >> jbs. some thoughts now going the other way saying hillshire is a maryland company, very -- you can do a lot of things under maryland takeover law to say no. let's just leave it at that without getting into it. >> more like pennsylvania than like delaware. also you have a young ceo at hillshire and you do have the opportunity, should it arise, should they want to, to change the consideration of their offer for pinnacle so it would no longer require a shareholder vote. they would no longer be offering 20% of overall cap in stock. >> in other words, it can accelerate the pinnacle buy which frustrates the hillshire -- pilgrim's pride i'm sorry. >> there are ways they can do that under advantages over maryland takeover and the consideration so their shareholders would no longer have a voice. doesn't mean any o

hillshire thinks both are compelling.just a matter of, in the end, who is willing to raise that bid. you get the feeling from analysts that that is a good chance it will happen. >> all right. the shareholders of hillshire must be happy. thank you so much. hang up for pork. another fight we are watching closely is something very different. a space race. making headway, the spacex ceo, elon musk. they unveiled a dragon v2 spaceship at their technology factory in california. the reusable capsule will take astronauts to the international space station in two years and can carry as many as seven people and up to four tons of cargo. coming up, it is the ridesharing service that everybody is talking about and using. money?s uber make we're going to find out in a moment. and nintendo has pinned its hopes on that plumber and his friend -- once again, they have come to an intend oh's rescue. ♪ >> after the tragic shooting in california last week, the issue of gun ownership is once again in the spotlight. colt is one of the gunmaker

they want hillshire.res, thatt indicates investors think a higher bid is coming because the shares are trading above the offer price. >> we should mention, this wasn't unsolicited bid. an unsolicited bid. >> it was. morgan stanley as an advisor to tyson, and morgan stanley was working on a deal for jbs. that has been suspended, according to people familiar with the deal. a little bit of consequences for actions. >> all right, the pork wars. thank you. 26 past the hour, bloomberg is on the markets. matt miller has the details. today,ing in the markets the fifth day that we have seen green on the board in the past six. the s&p, the tao, and the nasdaq with some gains. s&p up some 15 now. the nasdaq up more than .3%. individual movers we are watching the measures of softbank and sprint. the ceo of softbank is seeking the u.s., for telecommunications company, and consolidating with sprint for access to about 50 million subscribers in the u.s. the company plans to upgrade its u.s. networks. the ceo has made no

all cash for hillshire. this is unbelievable.hen that might have been by trying to stave off the other company that then offered to acquire hillshire. and the other one? quick. >> smithfield? >> no. >> anyway, now tyson -- here comes tyson into the mix, which definitely throws a complete wrench -- pilgrim. pilgrim came in to try to buy pilgrim. now tyson is offering $50 a share in an all cash proposal. $6.8 billion. >> why? >> because of all the -- >> the premium to hillshire holders would position, reposition tyson as the clear leader in the retail sale of prepared foods. it has secured bridge facility from morgan stanley. it is above the $45 a share offer that pilgrim's pride had offered for hillshire. and they already got, as i said, they got morgan stanley and jpmorgan providing the bridge financing. >> why do you like hillshire? >> i love meat. >> money is cheap. an all cash deal. >> all cash. yeah. >> money is cheap. >> so it went up to -- wow. 47. then it went to 53. so this is like a full on. we haven't had one of these -

that deal would presumably collapse if the offer for hillshire by pilgrims goes through.he market is making its own decisions. we will be back in a couple of minutes. stick around. ♪ >> live from bloomberg headquarters in new york, this is market makers with erik schatzker and stephanie ruhle. >> you are watching market makers on bloomberg television. seen,nie, as you may have is at the deutsche bank global services conference. you'll hear from her again in the next hour. , a billionaire is celebrating his victory in the presidential elections. he was elected with 55% of the vote. ryan is an kiev with the details. this is a gentleman not well known. tell me about mr. poroshenko mr. poroshenko. >> he is a successful businessman. sellinghis money chocolate. he is one of the most popular chocolate brands here in the ukraine. he is also a very successful politician, who has shown an ability to work with everybody. he was the former minister under the former president, going back several years. and that he was the economy minister under former president viktor yanukovych. he w

hillshire and another company have been named as possible buyers. >> thank you for the latest on hillshire buying pinnacle. >> coming up next, it appears that prosecutors no longer believe that they are too big to fail. >> and goldman sachs betting that gang members can turn their lives around. that story, coming up right here on "market makers" on bloomberg television. we are string on your smart phone, tablet, and at bloomberg.com. ♪ >> you're watching "market makers" on bloomberg television. i'm erik schatzker with scarlet fu. federal prosecutors are close to extracting guilty pleas from credit suisse and others. until now, the white print assumption was that criminal prosecution would put a bank out of -- the widespread assumption was the, prosecution would put a bank out of business. the question,to does it make any sense that the criminal please against guilty banks should come from foreign banks and have nothing to do with the financial crisis? >> the era of too big to jail is the shortest era in history, because it began with eric holder's strawman testimony last year where he said

it's a takeover bid for hillshire brands. making a $6.2 billion bid, topping the pogroms price of $5.6 billion. jeffe joined by phone by maccracken. let's start with wife hillshire is such a prize for these different companies. >> in some respects the real value is it's a dream vertical integration. these guys like tyson and pogroms pride have the -- differentride can buy products and drop it into the plans and processes that exist. it's a pretty easy deal for both of them in that respect. industry is so concentrated, why would do thisrs let tyson deal? >> there are some antitrust issues that would get caught up. that's why you probably won't see one of the other meet competitors hormel get involved for it most likely, there will be some assets divestiture is depending on who wins. you have seen that in other deals as well. >> i'm wondering if there is another regulatory risk in terms of market concentration but there are movements and some states to change the way animals are handled and put chickens and bigger crates and pu

hillshire brands. say it loud and proud. >> that's what geithner should do. the company striking a deal to buy pinnacle foods, bringing together iconic names under one roof. as we head to break, here's a quick chick of what's happening in the european markets right at this moment. i had to do something. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, en

hillshire is buying pinnacle foods.rth $36.02 a share. 18% premium over friday's close for pinnacle. didn't blackstone buy it? i have to go do a little homework on that. allergan rejected a takeover from valeant. it says the bid undervalues the company. it is not commenting on reports that it is soliciting alternative bids from four other companies, including johnson & johnson. apparently rebuffed thus far. already a winner in the battle for allergan. it is said to have a gain over a million. >> mounting tensions in ukraine remain a point of focus for currencies and gold prices. and phil from rgo futures. gold prices has certainly been influenced by what's happening around the globe. is it up 7% this year? >> we saw it get a bump up. a lot of it has been ukraine developments. we saw more developments over the weekend. the turnout was two-sided. they were calling that the turnout was great. but the westerns were always knocking down the voting because it didn't seem all that serious. gold prices getting a boost on that g

pilgrim's, poultry producer pilgrim pride for hillshire.yson foods has upped pilgrim pride's $6.4 billion proposal with an offer to buy hillshire for $68,000,000,000. earlier this month, hillshire proposed buying pinnacle moods, aunt gem mijememiah. >> that's unlikely, especially if either bid go through. i am going to need a chart to explain that. that was complicated. china is on the hunt for energy. it's going around the world making deals to get it. when we come back, we will look at what this means for the united states. motor city meets steel city. how pittsburgh escaped troubles detroit faced. how it can turn around its fortunes. that's coming up next. >> every saturday join us for exclusive, revealing, and surprising talks with the most interesting people of our time. rosie perez >> i had to fight back, or else my ass was gonna get kicked... >> a tough childhood... >> there was a crying, there was a lot of laughter... >> finding her voice >> i was not a ham, i was ham & cheese... >> and turning it around... >> you don't have to let

pilgrim's, poultry producer pilgrim pride for hillshire.yson foods has upped pilgrim pride's $6.4 billion proposal with an offer to buy hillshire for $68,000,000,000. earlier this month, hillshire proposed buying pinnacle moods, aunt gem mijememiah. >> that's unlikely, especially if either bid go through. i am going to need a chart to explain that. that was complicated. china is on the hunt for energy. it's going around the world making deals to get it. when we come back, we will look at what this means for the united states. motor city meets steel city. how pittsburgh escaped troubles detroit faced. how it can turn around its fortunes. that's coming up next. >> weekday mornings on al jazeera america >> we do have breaking news this morning... >> start your day with in depth coverage from around the world. first hand reporting from across the country and real news keeping you up to date. the big stories of the day, from around the world... >> these people need help, this is were the worst of the attack took place... >> and throughout the mo

they need hillshire, both of them. >> talk about globally protein is a big deal.bal growth in protein in your diet, regardless of whether it may not be organic or natural, but certainly some of those brands you mention, do deliver that. the brazilians control pilgrim's pride, they own 75% of that. >> right. >> tyson is the lead bidder. a key to remember when it comes to m&a strategy, they've got to figure out a way, hillshire, to get out of the deal with pinnacle. >> pinnacle. >> it's a relatively small break free. you don't pay a break fee until you have a deal signed up. that's -- >> pinnacle, pass our break fee if you want us to go away otherwise we're going to stay in our deal. >> this is a deal. someone has to buy pinnacle. pinnacle has kind of checked out. someone has to buy them. i want to know who. because so many companies are shedding the assets in this segment. pinnacle has to do something. so let's not lose sight of the fact that it's got a good yield, good management, bird's eye is a good brand, somebody teams up with this. >> right. i'm not sure who

for that reason it appears that people are choosing to sell hillshire.eemed to be selling going on for a stock price. well they are saying the next three years or so. it is 0.5 shares hill share and $18 a share pinnacle. let's move onto a deal that we are watching. that is valiant and the unsolicited proposal. allergan coming out and saying we are not interested at the price that you are offering. in fact rejecting it out right for different reasons. conference call offering and explaining all the reasons why allergan believes it is underval undervalueed. they did not go into detail attacking stock price. i would expect would be weapon number one. there are many who questioned whether it is sustainable. they use that word in the letter and on the conference call. raising questions but nothing attacking the currency. you are going to have the shareholders with the deal happening with 40% of the combined companies stock. you would think they would question the strategy and what it is that has made valiant so successful. and a very, very advantageous tax ra

hillshire farms -- cabin syrup, duncan hines, jimmy dean sausage. come on?t a table with a jimmy he sold it eight times. sold it and bought it back. just about brands. >> hillshire says the deal will add immediately -- >> ballpark franks. i am encyclopedic on junk food. it is -- if it is not good for me, i know it. cheese.'t own phil vida >> birdseye account for 45%. a lot of frozen food involved here. breaking news headlines from right now. adam, you got our other top stories. >> we will go overseas. china's president xi jinping says the country needs to adapt to a new normal of slower expansion. china must take measures to reduce what he potential negative effects. annual forecast is that china is heading for its weakest expansions of 1990. surprisingly strong language from south korea, the defense ministry says north korea is not a real country and the government of kim jong un must disappear soon. they criticize the north for developing nuclear power and testing new -- testing missiles. -- willard try to revise revive the net neutrality rules. internet p

hillshire's stock is trading above the $50 per share offered.ism that an even higher bid may be coming along. "bloomberg west" is coming right back on bloomberg television. ♪ >> you are watching "bloomberg west," where we cover innovation technology and the future of business. i am emily chang. bloomberg top headlines. it appears that a class action lawsuit will go to trial on july 14 over apple's alleged e-book pricing. it had challenged the decision to give the case class-action status, but a federal court in new york has rejected that challenge. apple is still reeling over last year's ruling that said apple violated antitrust laws in its contracts with th e-book publishers. twitter is nearing head fry steps down. ceo dick costolo has made no secret of the fact that he wants to speed up product innovation. and facebook ceo mark zuckerberg and his wife, priscilla 10, make a major donation to schools. $120ouple is donating million to low income areas are here in the bay area, east palo alto and parts of san francisco. the zuckerbergs previously

hillshire has a roster that includes jimmy deen and sarah lee.n hines and antergy mai ma brand. both approve the acquisition. let's look at the big board. blue chip up 96 points. 16,679. gaining 6 points and s&p up by 12 points. back to youment. >> 16 minutes in. looks pretty good. thank you. >> long ways to go. >> that we do. see you after 4:00. kcbs news is on. >>> only on 5, start-up companies overhead costs in san francisco. a dozen companies have set up shop in a ship that once served as an icelandic ferry. it's a fine way to save money on rent but there was a problem. in order to dock at a local pier, the ship must be able to sail. it hadn't moved in years so the owners spent tens of thousands of dollars in repairs. >> we accomplished something quite a while in preparation. >> well, it paid off. the ship sailed yesterday with no place to go except to prove it can sail. >> there you go. for the first time, donald sterling is talking about his racist rant that rocked the nba. kpix 5 reporter mark kelly joins us now in the newsroom with what d

tyson for hillshire. the always inquisitive jm smucker reports next thursday. this is really important. because i bet they'll talk about this wave of mergers and acquisitions when they are questioned and i think they're more likely to be a predator than a prey. i want to hear their clues and i can't wait for that call. we get results from sienna thursday. i talk about the winners in my charitable trust. let's talk about a loser. we totally round tripped a big gain. it was so bad. someone asked me on twitter if they should own ciena into the quarter. while the stock has come down hard since the last quarter, i think it has become a crap shoot. if you want quick exposure, stick with the big yield, big buyback. cisco. where it is real and palpable and much more staying power. plus i like that i'm the only person who is still liking cisco but i didn't for a long time. there will be a big short squeeze going into this. wait a second. given the war on coal this monday, i don't think you want to be there. if you think there will be a short squeeze, go buy caterpillar.

pilgrim's pride looking to buy hillshire for $45 a share. pride is not trading in the premarket. >> raj date, former deputy director of consumer financial protection. do you like hot dogs with dough around them? >> anything you can put a toothpick in. >> pigs in a blanket. hot mustard for those. >> they are the best. oh, please, you have never had one? >> no, not my thing. >> raj date on mortgage debt. you were the first head of the consumer financial protection bureau. amazing that it took so long to create one. two numbers came out last week that i cannot wrap my head around. americans are underwater on their mortgage. sandy and -- fannie and freddie back to 90% of mortgages. who is worse off? >> no one is feeling great. when you have a housing market where values declined by 30% or 40% over a pretty compressed everyone time, almost is worse off. going into the crisis we had $20 trillion of value in housing stock. maybe 50% aggregate loan to value. if values plummet, everybody gets hurt. homeowners get crushed and city banks and bondholder

. >> here's what's happening with hillshire brands.his three way food fight, if you will. hillshire responded but the proposal by pilgrims pride "we continuously believe in the potential provided by the proposed transaction with pinnacle foods. consistent with it's fiduciary duties and consultation with independent financial board and legal advisers they will thoroughly review the pilgrims pride poem. hillhire try tried to buy -- this is the latest. they will thoroughly e vauvalua the transaction proposed by the pilgrims pride. >> forget silgen valley. silicon alley has all the connection. why a lot of the start-ups are moving to the big apple. and google considering buying drop cam. google is already keeping its eye on you. what could it potentially pull off with the help of the drop cam. tweet us at squawk alley and we'll get your responses later this hour. in today's market, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possibl

and the number one is hillshire brands.ow made a $50 a share all caps option to buy the food it's $6.8 billion bid gives hillshire shareholders a 35% premium. they come to today's after pilgrim's pride offered to purchase the company for $45 a share. so a bidding war looks to be set. now, to the colony market, i want to bring in the chief portfolio strategist at wells fargo fund management. his call, the election in ukraine may use or your dirt cheap. this is not a part of the world we often talk about. where exactly are you seeing bargains? >> well, if you look at europe as a whole, i think it is pretty much undervalued before the long term. i am a little nervous as to what could happen for the eurozone, with the et be's meeting next week, but eastern europe from a valuation perspective, especially in poland, i think that those stocks are trading at a significant discount to where they could be, perhaps a year from now or even over a shorter term because if we have some sort of diplomatic resolution of the tension between

hillshire is down about 5%. but check out other packaged food companies, thinks hain celestial, annie's all the moving high, rbc says the deal has a ripple effect. >>> investors are still watching some big flash points around the world. and michelle caruso-cabrera is here. let's start with the ukraine where pro-moscow protesters are if declaring victory. >> yesterday's referendum was chaotic. clearly the counting of ballots were skeptical, but a vast majority of people vote to do join and be independent from key jif. so far russia has been sitant. that's the key thing at this point. what is russia going to do. there has been violence over the weekend, nor does it look like they'll annex these two regions either? >> that makes florida look really good, man, i tell actual. there they are. all right. all right. >> let's move on to nigeria, a truly tragic story there, with the kidnapping of more than 200 young girls. the latest is a video that's surfaced. >> released by the girls' kid p kidnappers. boko haram has pu

i know hillshire bid for pinnacle and, you know, pilgrim was basically saying we're a much better matchn that partnership. how do you think this is going to sort out? >> this is one of my favorite stock picks, and i picked it before i knew they were going to make this bid today, but this is a great company. it has a moderate pe of about 11, it has a 46% return on equity, it has huge free cash flow, and you look at what happened today in the market, both the stocks, hillshire and pilgrim's pride, went up. and so i think that says a lot about how the market views this. this is a great company, andbzhi believe that everyone thinks that this is a great merger. david: paul, let me stick with you for a second, i want to get a little optimistic after my pessimism and talk about asia for a second because we already know they don't need a great e[ population in order to have hundreds of millions of people in the middle class because there are so many there. but the middle class in asia which is now, i don't know, about 500 million more or less, could triple in the next decade. this is a huge mar

hillshire brands is paying more than $4 billion for pinnacle foods. what do they own? they have duncan hines, wish bone salad dressing and vlasic pickles. investors gobbled up shares of pinnacle. they soared more than 13%. >>> another possible merger is facing a lot of scrutiny. pfizer is defending its proposed takeover of british rival astrazeneca insisting the $106 billion bid will benefit shareholders and any promises made to uk officials regarding jobs or paying its fair share of british taxes will be kept. here's pfizer's ceo. >> when you look at this combination, it really meets the scientific needs, it meets needs of efficiency, it meet needs of strengthening a balance sheet and our fiscal position. it allows shareholders to number one get an immediate benefit from the cash that we would pay them and it allows them to participate in a very strong combined company with great cash flows, great portfolio. it allows a very efficient allocation of capital by my company. >> this week two british parliamentary committees will hear testimony from pfizer about its bid to