here to discuss all of this is matt campbell. matt, a lot of people have suspected this company was after shire. it has come out that is the case. but shire is not satisfied with what looks like a decent offer. >> that's right. we have seen in the last few minutes, shire putting out a detailed defense statement going into considerable granular details on its performance targets, that it feels there were execution risks. this is a document that has been in the fridge for a while waiting for just such an occasion. nopw the question is, is this over as these statements have detailed? that last offer was may 30. we are now in a situation where shire's shareholders are going to be saying, we think this offer might be decent or maybe they will say otherwise. abbvie have to be betting that some shareholders will be asking management to come to the table. >> in terms of the logistics,

here to discuss is matt campbell. matt, good to see you. so what is so attractive about shirea?it is a perennial m&a rumor. the thing about the rumors, eventually something does happen. abve which was spun off from abbott labs has made three attempts to buy shire, all rejected but abve has gone public, which will have the effect of lighting a fire under shire's shareholders. now what is attractive are a couple things -- number one, the zip code. shire is an irish company. ireland has a rate of corporate tax of 13.5%. then it also makes some interesting drugs, notably adderall. what we have seen in the pharma these block buster drugs other ones getting interest. now you mentioned they have gone public. does that mean that they have given up on the board and now they are going to try to go direct to shareholders? way this is played out is actually not dissimilar to what happened with pfizer and astrazeneca. that was a bear hug approach where pfizer to go very public with exactly what it offered to astrazeneca's shareholders and that had the intention of getting shareholders to pre

here with more is matt campbell. why do they want frank russell?e two elements you have to pay attention to. geographic diversification. frank russell is a big player in the united states. has beeneen -- lse trying to crack north america for some time. this is the new plan. it is all about derivatives at auction. if you own more of these indexes, you can be the provider of more of these options and derivatives and more etf's. they are an increasingly popular tool for retail investors. that is the broad russia now we are seeing. what is interesting is how this is being financed. >> speaking of that, it is interesting. borrowing is cheap. what do you think about the fact that they decided to do a rights issue? >> there is a lot of support in the equity markets for m&a right now. in an environment where confidence is lacking or investors are feeling skittish about companies making big moves , you see the opposite. but time after time after time in the last few weeks, a deal is announced or leaked and the acquirers shares rise. says, we can go to our s

r bloomberg news reporter in london, matt campbell, joins us.t seems that the valuation here is the same, around $17 billion. what has changed? >> what has changed instead of the valuation that remains flat is the structure of the steel. this is the document that ge in almostcalculated every syllable to appeal to french politicians and the french public conversation. the ge bid for most of alstom and 75% of the revenue is accounted for by this energy verythat became controversial, with a loss of nationalism and protest that this crown jewel of french industry should not be killed off. what they are proposing is a number of joint ventures. this is 50-50 between ge and alstom, and spending their own money on a rail signaling business. the end result is to allow french politicians to be able to declare victory and say that they have strengthened or saved them from what they thought was a horrible fate. >> it seems these joint ventures are in the renewable energy spaces. does this make the french government happy and is enough for the deal to go thr

joining us now is matt campbell. let's take a look at this battle. jeff's in town.nts to nail it. what does he have to do? >> he wants to get it over the line. all of the noise we have seen with siemens and its counterbid, g.e. still has the upper hand. they are very much in the lead. i think he really has to close to deal to convince the government to go along with his plan. the smart money is very much on g.e. getting this done but i think it has been much more complicated or drawn out than they or anyone else thought it would be. >> everybody comes on this show and says the smart money is that g.e. gets it, but siemens, mitsubishi are not in the business of making bids for companies they are not serious about. that's why i find it all so surprising. >> yeah. that is an interesting points. the question is are they serious about it or are they just trying muddy the waters? >> their offer looks so much more complex and doesn't make as much strategic sense. i think that is the proverbial $17 billion question. the siemens offer is strmly complicated. we would struggle

matt campbell, bloomberg news. up next, google pulls consumers into orbit.ll bring you a preview of the developers conference and the technology right at its center. ♪ >> i am anna edwards in london. this is "on the move." the google plus developers conference kicks off in san francisco. it has been an inquisitive year and now the focus is on the future of their diverse business. here is a preview of what we can expect to come out of the event. we are joined now by lee simpson. what can we expect? it can be a bit of a nerdy affair. >> a bit? >> there is sometimes something for consumers to get excited about. >> i think the headlines are going to be on the home this year. it is the first i/o conference of the acquisition of mass. they have been busy. -- nest. they have been busy. they came out with the drop cam. we will be hearing white a lot about the home, -- quite a lot about the home, about home automation and automation of monday tasks and how we can program. the program of our lives we possible. >> you said that maybe there will be similar where you can

. >> we will discuss this further with matt campbell. our third front-page story, rebels in iraq are seizing more territory. john kerry arriving in baghdad for talks with the maliki government. --der crossings which order with jordan and terry were captured. the president warns fighting could spread to neighboring countries like jordan and that is what we've been hearing from guests we have been talking to as well. >> that is the concern. you pointed out earlier, tom, there is talk of some sort of -- in other words, realigning. got may be why their turn to after these border crossings in jordan and syria, because they want to get rid of -- >> i would really focus on the jordanian borders as far as politics as well. >> in oil prices elevated as you see as well. new york crude but also brent crude, highest since september. and those are front-page stories on this monday morning. >> we need to speak to someone on oil. oil did not move. that was two weeks ago. now it is driving higher. our guest from barclays, dr. kroft, wonderful to have yo

. >>> matt keller is if campbell with more. matt?you remember when it was a big deal to pay $4 a gallon for gas? now it is population here $4.05 or $4.21 and it could go up if two united states senators get their way. democrat chris murphy and republican congresser unveiled a warm ban plan to raise federal gas for first time in more than 20 years to raise the current 18.4 cent a gallon federal gas tax and 24.4 cent disease will by six cents next year and six cents in 2016. the plan calls for off setting the increases by extending federal tax break that expired. people say they would support a tax increase but only if it really want to making the roads better. >> if it really went for the roads i wouldn't mind because they are in tough shape in california but it never ends up that way, the hundred hundreds of millions goes somewhere else. >> revenue from gas tax and other transportation user fees that go into the fund have not kept pace with federal aid promise to the state all on top of the state gas tax. if you live if california yo

campbell and all the bay area, this is abc7 news. >>> we have developing news from san jose, an investigation is underway into a fatal accident involving a light rail train. >> matter is on the scene. matt, how did the dog possiblibly a role in this? >> sadly, this is the second person killed at the intersection in southwest expressway. the latest accident happened last night after 9:00. >> a male. if his 50's. he appears to chase after a dog. he went into the path of the train. that is all we know. >> a small memorial was started this morning next to the track that include as candle and flowers and a rock and a necklace. about 25 people were on the train at the time of the accident and they were not hurt. the traffic investigation team was called to the scene. >>the gates down and the bells were ringing. >>> a pam says standard procedure means the operator will be tested to drugs and alcohol and the train impounded and the area was blocked off. light rail service continues in the area. a memorial still remains at the intersection for 14-year-old who was kill by a train? january while riding her bicycle do classes here at tell -- high school. >> a study finds tha