mylan for perigo teva for mylan. value creating combination between teva and mylan.se remember it's $82 a share in cash and stock and they say that they remain fully committed to getting that deal done as i pointed out many times, they may be fully committed but there are a great deal of weapons in the arsenal that mylan has to prevent them from being successful. not the least of which is the structure in netherlands. and mylan has yet it even respond to teva's offer. typically we would get some sort of response from mylan. remember it came out prior to the actual offer and said it wasn't interested. before teva even made it. >>> shares of juniper networks are soaring are up on soaring earnings. juniper's new ceo after his predecessor was force to resign in november following a board review of his conduct with an unnamed client. joining us, the ceo of juniper networks. good morning to you. it looks like the quarter was all about demand for the cloud, cable and the european telcos. >> you're right. we had a solid q 1 quarter. think that's a testament to the fact that

mylan, as well.rigo that mylan made a bid for, some thought defensively in response to interest from teva. only down a little bit this morning. curious to know what people think about that those prospects now. an interesting thing for teva is not just that it would combine with mylan and make this gigantic generics company and a lot of synergies, about $2 billion in synergies, clearly people like those. teva is dealing with generic competition to its own branded multiple sclerosis drug. mylan is one of the companies that would potentially make a generic competitor to it. folks thinking teva needs to beef up in response to losing revenue. we'll see how this plays out. mylan clearly not wanting to get awared given its statements last week. the fact teva is going hostile shows it needs to do this deal. could be very difficult for it to get it done. >> given the dutch takeover law and/or things associated with it it's virtually impossible for them to acquire mylan should it wish not to be acquired. will

hitting the wires, mylan proposing to acquire perrigo for $205 a share, cash and mylan stock, mylan ists a greater than 25% premium to perrigo's trading price as of the close of business on friday april 3rd. now again this is a proposal and mylan is saying in this release now that it's a culmination of a number of prior discussions. the two companies have had. now these are both companies that sell generic and over the counter products and this would combine two big companies making a bigger one here. this is just a proposal, $205 a share, mylan proposing to buy perrigo. back to you. >> apparently in the letter they've had discussions over the past few years which they note in the letter. we did see trading ahead of the news before halted. not often we get a $30 billion proposal in the middle of the market day. thank you very much for that. >>> lauren, back to you. i guess separate from the review, what kind of expectations do you have in terms of apple watch sales as it heads towards opening weekend? >> it's really difficult to say how well this is going to do. i will say that for --

teva going after mylan and mylan going after another. which one will succeed? >> this is a soap opera and i don't think there is a sense right now of exactly how this will layout. we are still waiting for mylan to make formerly it's $29 billion offer for parago that will affect this entire thing. both of these companies have very seriously independent personalities at the executive level and cultural level. they don't like each other. this could get nasty at some point. there is robert corey a big personality. he wants to hang on to his personality. teva people have a strong identity. a huge part of the ice drilling -- a huge part of the israeli industry over there. stephanie: to these guys have massive payout deals? drew: with have seen this time and time again. a lot of people are making great golden parachutes but the mylan folks haven't saying they want to make a huge big deal of their own and make a buy. they don't want to get bought. erik: if teva isn't successful buying mylan that teva itself becomes a takeover target? david: i think that is highly unlik

mylan and perrigo, both higher one day after mylan proposed an off to acquire perrigo for $205.as that news broke yesterday. you're here on set this morning. good to see you back. >> thank you for having me. >> it's like pictures of the food chain, you're not sure which fish is going to eat which one first. >> used to call that the pac-man strategy years ago. >> what's the play book here? >> what's the play book here? i think it's everything's up for grabs. as we were talking about, david was talking earlier this morning, about teva i think certainly it is like musical chairs or a land grab companies feeling that if we don't get into the game now, what's left to do? these companies, we were talking earlier offset if you look at the market caps of these companies today and compare them to four, five years ago, unbelievable. one deal after another, for multiple years look the perrigo, even mylan, and the size of these companies, through the consolidation of the business -- at some point these companies just are too big to acquire -- teva -- >> actavis. >> right. exactly. that's a

is it mylan, is it perrigo to answer mylan and their bid at this point? or where do we go from here? >> i think it's really the combination of mylan and perrigo. and whether this is enough to get those two visibly engaged. thus far, perrigo has really been silenced in the whole combination. so i think that you know mylan needs to probably you know engage perrigo and that would be the next thing that i would look at. as meg mentioned at the outset, i think mylan has been very pro-active about communicating that they want to remain independent and that they think the perrigo deal makes the most sense for shareholders. perhaps they will need to put more pressure on perrigo to come to that conclusion. >> right. >> by upping their bid. >> and perrigo shares down about 2% on the day. we'll leave it there. thank you both meg tirrell and barbara ryan from claremont partners. >>> time now for a "cnbc news update" with sue herrera. >>> here's what's happening at this hour hillary clinton campaigning in new hampshire says she wants to be being in the middle class to

my lan -- mylan proposing to buy perrigo. mylan says it sees meaningful accretion.cash and stock, $205 perrigo would get. this is a profile for mylan a generic drug maker. it has made 18 deals historically worth $16.4 billion. this was bad to that here and it would be one of the larger ones. $205 a share. do we have the overall value of the deal? . not yet once we get that we can tabulate and see where it falls in the list of previous deals. look at how the shares are performing. this is mylan's shares, soaring on this announcement. mylan is the acquirer and yet the stock is rising, up more than 9%. perrigo is getting a pop as well up 7%. shares halted from trading. other headlines from mylan the board will offer an opportunity to serve as cochair that must be the ceo of perrigo. yes. he's the ceo of perrigo and he has been offered the opportunity to serve as cochairman. we keep an eye on developments. mylan proposing to buy the company for $205 a share. erik: was wondering whether mylan is not trading higher because this is a small premium for a drug deal. perrigo

we have breaking news, mylan more about the mylan-teva story. put out a story on the recent media speculation. mylan says it is fully committed to a standalone strategy. it says the combo without sound industrial logic and it has studied a potential combination with teva. we will continue to follow this story, that breaking news. we will have more coming up on "street smart" with alix steel who joins me to talk about chevron who will be exporting crude to asia a rare move given the u.s. ban on exporting unrefined crude. what do we know about this? alix: you are allowed to export products. you have to apply for a permit that you can do it. actual crude is rare. in this circumstance, it is allowed but rare. this is according to people familiar with the matter. it caught my eye because it showed there was no other place for this oil to go. there was no other place it could be except asia. that is what is so striking about this. mark: will this lead to more west coast exporters? alix: that was the chatter around the move earlier today. david hackett

mylan is yet to get back to us. caroline: give us a feeling of what mylan seems to have projected the deal even before was tabled. they have tried to preserve it to an extent. elliott: a bit of an unusual step. there is speculation that such a deal might come about. what mylan said on friday after bloomberg reported that teva was considering making a bid, the chairman came out with a statement and said we have studied a potential combination of mylan and teva for some time and we believe that a combination will be without sound industrial logic. of course, overlap means you can strip out the cost from those potentially. teva also on the lookout for trying to outfit drop off for its best-selling drug in which is a multiple sclerosis treatment. the first competitor to that drug was approved by the u.s. last week as well. there were some justifications. the market seemed to like the idea of a tire between the two, sending them both up to record highs. it is all adding up here in pharmaceuticals. back to you. caroline:

neva's offer for rival mylan comes on the heels of mylan's offer to buy periggo, a move some expected to be defensive. it contributed to deal activity among drug companies. >> you have to be big or you will get acquired. >> but mylan is not expected to go easily.y rejected the idea of a merger with teva saying it will be a cultural clash and could raise anti-trust concerned and teva dismissed that today and said they could close the deal by the end of the year. the israeli company said they could create a transformative generic drug company with revenue of $30 billion and there could be $2 billion in cost cuts it anticipated. teva makes the multiple sclerosis medi copaxone which brings in billions of dollars a year and could seek growth through acquisition. >> teva clearly feels they need to do something now that momentum is going to come up with a generic. >> it could raise questions from regulators concerned about rising drug prices and shortages due to industry consolidation and analysts believe that mylan may seek a higher price. bernestein said it could ask up to $90 a share and

teva wanting to buy mylan after mylan wanted to take out perrigo. what's going on, anybody biting? is biting just yet. we have to see how long this chain of increasing offers, rejecting offers. i mean, this one came back immediately, perrigo rejecting this offer from plomylan. they're claiming the offer is lower than what mylan put on the table. it came out before it laid out the details of the bid at $205 share and now perrigo is arguing that even though mylan based on its current share price, it's offering $75 for cash plus 2.3 mylan shares for every perrigo share in this newest deal which, based on mylan's share price, would be about $246 per share. but perrigo argues that it's the right thing to do to calculate this based off mylan's unaffected share price before teva was speculated to be interested back in march. then it says based on that the offer is only worth $202 a share. so these are the semantics that are getting argued about right now. mylan has its own offer from teva on the table which it's rejected. teva hasn't come back but sent a letter saying "why you being so me

let's consider the cases of mylan and perego. when we last left pere xwfrn o yesterday, it was the subject of a takeover by mylan. it rallied nearly another $4 after a 30-point gain yesterday. mylan which jumped yesterday from 59 to 69 ran up to 70 today. that's amaze being behavior as suitor and pursuer soared. it's where the action is. i get it. i get it. the stock's have already merged companies are some of the best performers out there considering walgreens boots alliance a recent drug store merger reported earnings that sent this stock, which had been a huge winner for my charitable trust, sent it skyrocketing nearly five more points today. sold it this last week. that was an instantly successful merger. why not try to find the next one? walgreens call the company said it might want to make acquisitions which cross express scripps to leave speculation it might be that one. it's huge. traders couldn't resist given the speculation has been repeatedly rewarded in the market. by now you would have a black eye if you kept specula

mylan has turned down prior offers. hour, bloomberg west teaming up with a major critic our company to make rides cheaper for his cardholders. cardholders will now get 20% of their goober very returned as credit to pay off credit card statements. in national terms of the deal are not disclosed in the goal is to attract new customers to both. those are your top headlines. another reason to take gooberuber. bloombergs matt miller and joe weisenthal joining me this morning. move over gold. i am feeling good. according to larry fink, gold has lost its luster. there are other mechanisms in which you can store well. this is perfect timing. we just had gary barnett saying they are buying $100 million paintings more than $100 million condos. matt: if we are talking about things in that price level, i don't think a lot of people can play is the problem. that may be true but that cuts out 99.9% of the global population. joe: i don't know if it is sure that real estate will keep going up but there is an interesting phenomenon here

fit for mylan.ave to do quite a bit of convincing. there are quite a few obstacles. mark: thanks, david. david in tel aviv. anna: you are looking at a live shot of london. equities open up and around 10 minutes' time. trading pretty flat for the start of this morning's trading session. the nikkei 225 closed above 1000 for the first time in 15 years. let's see what that does to european trade. after the break, we will look at what is driving trade today. ♪ anna: we are just a few minutes away from the start of european equity trade. tesco will be one of the stocks to watch for sure. it just recorded the biggest loss in its history. caroline is here. let's remind everyone the scale. caroline: they are bigger than has been expected. kitchen sinking it is what everyone was saying. 7 billion pounds of one-off charges related to the restructuring of the business the stock, and even commercial income of previous years. that was the prophet black hole they had. 7 billion and one-off charges means there is a

a lot of analysts were saying did mylan get some kind of offer?here was an ak for mylan just on april 3rd. questioning whether there's something else going on. here we don't know whether there was. this is total 4reu speculation from analysts right now. that had been out there for a while. they are still saying it's possible to come out with its own offer for mylan. and, again, saying if they don't come back in a week, you may see perrigo trade above the offer price. so it's really interesting dynamic here. >> usually you see some activity. >> actually, incredible. she brings up a potential suitor at some point in time. march 11th, we had huge up side buying. i think the interpretation would be if they did a deal with mylan that would be viewed as a positive as well. that was viewed as a positive. stock reaction was incredible. they came in and bought 10,000 of july 70 calls. the whole cost of the trade, 10 cents is what the cost for 10,000 of these to trade. today that ex paneled all the way over $5. so an incredible home run for those able to ge

before teva even made an offer to mylan, mylan rejected the deal last week. this plays out and if there is any word from teva or mylan when trading gets underway in the u.s. later today. francine: because they seem to have rejected it before it was tabled, does this mean we are expecting an increased offer? elliott: we didn't even have an offer. talking about, perhaps this is brinkmanship and mylan is playing. hardball but there is not even a to play with. we are at an early stage. the deal is being prepared and have a is using barclays as a main advisor. this could be tabled as early as today but we do not know the evaluation. mylan was valued about 33 billion dollars at close of trading last week. a pretty big marshall to swallow if teva tables this bid. things seem to be aligning to suggest this is going to happen sooner rather than later. how big it will be we do not know. francine: elliott gotkine in tel aviv. guy: that is it for "the pulse," keep it here on bloomberg. for u.s. viewers, "surveillance" is live from new york. for those on the side of the a

perrigo will recheck the latest takeover from mylan -- reject the latest offer from mylan. >> mylan saidg forward, proceeding with its unsolicited hostile offer for perrigo $31.2 billion worth in cash and stock. perrigo is saying he will be rejecting that offer. perrigo executives view that mylan stock price as inflated by a bid from teva. teva made a bid for mylan. mylan rejected that did and made a bid for perrigo. the stock still rose as they got these various offers. perrigo's executives think that the mylan offer has been inflated and is not going to stay at those levels because of teva's offer for that company. we have this three-way situation among these drug makers, and there's a lot of resistance on the part of them to accept these various bids. we will keep on top of that situation and let you know if and when perrigo goes public with that rejection. in the meantime i want to mention the european close and what we are seeing their and european stock markets. we did have a bit of a rally in european stocks today. we have german economic data. jumping to a 10 month high in april.

also to take over mylan. meg's got the details on this. mylan had already said they are not interested in this whatsoever. >> right. they came out last week before teva had a bid on the table and said it's not for us. so people are batting that around trying to figure how much of a block they can really put up there. of course it tried to buy perrigo. perrigo just coming out after the close today saying its board rejected the mylan offer. and there are some concerns here from an antitrust perspective. teva saying they're confident they can close the deal by the end of the year. but regulators i'm hearing is likely to take a close look at this. and the more consolidation in that space, the more drug prices could continue to rise. we may see a lot of kind of examination from the regular perspective on that. >> mylan also has a dutch poison pill which seems it would protect them a bit from a hostile takeover. >> yeah. it's really interesting. they inverted to be in the netherlands. and they do have that protection which they put into place ri

in the quarter they sold some assets to mylan and they still own some mylan stock.s bid on the table potentially giving abbott is a little bit of a boost raising the value of that deal they did with mylan. we don't know how it will turn out but william blair coming out with a note saying that could enable abot to enable abbott to do acquisitions of their own. ja >> let's talk about this love triangle. there are developments furthering the story. >> teva making a bid yesterday for mylan. mylan coming out and making an offer for perrigo. david faber saying mylan is likely to return. there's maybe an unrequited love triangle going on. it will be interesting to see how that plays out. >> i want to bring in corey davis. great to have you with us. >> tlast for having me. >> i know you cover teva but how likely will teva be successful in that the market and the price action is telling us nobody thinks it's going to happen and there's a dutch poison pill which is another obstacle. >> i love to call this the love/hate triangle. what teva is trying to do here is they were the

teva or mylan? because a lot of people are speculating that mylan really just went after perrigo defensively, maybe as just a way to get thatva to raise its offer? >> both teva and mylan would like to see a deal because the business inherently is very volatile. it goes up and down based on how things happen every year with loss of products. so the more the bulk the better. especially when you have one single product at teva and mylan making a lot of the products the more you diversify, the better. i think both need the deal. i think teva might need a little bit more because they've had some management issues in the past, and they probably want to make a statement that they are not going in this direction, in a certain way, but, i think these deals do make a lot of sense, because it allows you to bulk up. it also allows you to go after margins, because you can offset your slower growth by margin grouping. >> brian item. >> hey, fred. it's brian sullivan in los angeles. you know, the interesting thing

teva is boring a takeover offer for mylan.t is a begins a move that would create a global, generic drug giant -- it is a move that would create a global-generic drug giant. china is building new harbors and airstrips on various reefs in the spratly islands. beijing has confirmed it will be used for military and civil purposes. several countries have been fighting over rights to the south china seas for centuries. coca cola will buy a line of chinese protein drinks for $400 million and is expected to be cash for the deal. was largest beverage company is making a renewed push into the asian market after another takeover deal was blocked six years ago. markets getting hit hard for the carnage started in after-hours trading in china. futures were hit after regulators step into cool off the overheated market allowing investors to borrow shares for shortselling. with me to discuss, axel merk, and the chief strategist at silver crest asset management. patrick, what happens when markets open? patrick: it shows this is so fragile. i do

when it comes to mylan, there's no doubt about it.y said no before the offer came out on friday. rob, their chairman who is described by many who likes to drop the f bomb every other word. no way he's going to say yes. they called the toilet paper the stock. i've heard it too. quotes adds well. wall street journal says that. >> here is their statement last week. >> that's where things stand. mylan getting more serious and real questions about that. >> right. that's an unbelievable summary. this happened to be a bad stretch. >> i think it's a brilliant move. >> of course teva getting there may keep them from getting the vote. final point from me teva could have succeeded in buying mrk ymylan if they had pursued a few months ago. big mistake by teva. >> petrobras voting today on whether the release audible financials. chief international correspond nt is at petrobras'headquarterers. michelle. >> reporter: hey there, daiftd. when the sheet comes out tonight investors are looking at how big is the hole. it matters because they're the most

we'll see what mylan does today.re on this entire situation, one in particular that has not been reported, or if it has, certainly has not been fully understood by the stock market. that has to do with copaxson a key treatment that of course teva has for multiple sclr rods. the treatment has gone generic, most of the population was migrated by teva to a different formulation. interesting to note that on march 3rd mylan in an interparty's review challenged the remaining patents on copaxson that teva has. copaxone has -- and it hasn't seemed to dawn on the market than challenge was taken on by mylan, it would go to the so-called p-tab, the cord are court specifically designated for decides they patent challenges, and trying to move them through. so those on copacksxone -- that would have a very negative consequence it would seem for teva girch again two thirds of the patient population that was on copaxone migrated to the 40 milligram dose an where it's preloaded, three days a week and incredibly profitable for them. >

mylan says we believe the price uneffected should be considered 68.k at that and apply to 2.3 multiple to that and add 75 bucks a share you get to a price that is in the 220s or more and it represents a high multiple. it says no we think the uneffective stock price is closer to 55. that was the price on march 10th before the rumors. now teva does follow through on the rumors and made an offer after they made an offer for perri perrigo. it may make it difficult to get the number. perrigo is an irish accompany. we've talked a great deal about the interest and if it will be in position to close the deal. that's why perrigo may not be up. it's all about what tun if he canned stock price is and how much fluff was in there. that first bid was 205 but they did not tell us what the composition of the bid was? it was rejected by perrigo and my sources indicate we should be getting the latest bid any moment. >> still ahead first on cnbc interview the ceo of twitter with join in about an hour to weigh in on the quarterly results and the premature release of the

mylan has offered to buy drugmaker para go. it would be mylan's biggest purchase ever.than four times the size of anything it has attempted. for more, let's bring in manuel. good morning to you. why this move? manuel: the latest move in the pharmaceutical m&a frenzy. big pharma are trying to identify potential targets as they try to book up their operations. for mylan, it could make sense to buy perrigo. at the same time, it could be seen as a defensive move if other companies decided to give it a try. anna: put this deal in the context of any broader m&a that might take place. there is a company that might be interested in buying one or both of these businesses? manuel: exactly. they have said they want to grow through acquisitions this year. they want to do more deals. mylan would be a perfect fit. it would get them out of exposure in the u.s. and emerging markets, which sits nicely with the strategy as well. anna: last year, we were talking about deals when u.s. companies come to europe to try today get advantage of favorable tax regimes. this is a broader story. why

mylan shares are in fact spiking. teva pharmaceuticals is considering a bid for mylan.go. the stocks are moving as if it has made a bid because we are seeing perrigo shares to the downside right now. the stocks you need to know about. and wynn resorts. we've covered the macau casinos quite a lot. the results will actually get worse before they get better. and there's a risk at the dividend dividend. >> the second stock here melissa is sandisk. it's getting downgraded left right and center. and also by credit squeeze. it was downgraded to sell. the price tag was cut to 60 bucks from 80 bucks. it's scently lycurrently sitting there at 66 66.60. >> they had taken down to revenue guidance just about a month ago. this stock has been in a world of hurt since then. raymond james pounding the table ahead of them due on april 28th. the analyst saying the intraquarter data -- but raymond james is sticking with its market rating because shares are priced at a premium to its growth peers. >> this is hersheys. the stock was removed from u.s. focus list with analysts noting the week

mylan made a hostile bid the perrigo deal would be my len's biggest yet -- mylan's biggest yet. the real fraud and markets can be found in the pool of debt from europe to japan. the bubble is not sustainable. the statue of liberty on liberty island evacuated this afternoon after police receiver sports -- reports of a suspicious package. police patrolling picked up the scent of a suspicious package charlie before 1:00 p.m. let's go to the breaking news desk. after a 15 year drought, the nasdaq closed at a record high yesterday. clearly the performer among these three major indexes. volume and nasdaq stocks is 15% above the 10 day average. google, microsoft and amazon those earnings -- those come from three nasdaq companies that strategic research group calls tax staples. they have matured into these cash generating behemoths with all of the above strategy for growth. that is helping to propel the nasdaq and leading to what some more people say is a sustainable rally this time around. as prices go higher, we are seeing the fix continue to drift lower. it is now at 12, 12 .5. you c

mylan rejected farmpharmaceutics takeover. mylan said it remains committed to producing ireland's perrigo in a $22 billion proposal spurred last week. mylan, perrigo ended lower today. >>> a new bird flu found in four iowa poultry farms. the iowa department of agriculture said the new case affects nearly 2.3 million birds. that brings the total number of confirme cases out in iowa to more than 6 milli >>> today, chipotle which builds itself as a healthier fast food alternative became the first natural restaurant chain to offer a menu completely free of genetically engineered ingredients. that's taken almost two years to eliminate foods made with genetically modified organisms or gmos from its supply chain. but chipotle said it's all part of rethinking the . as of today, if you want your food free of gmos and you want it fast you can get it at chipotle. and at its shop house, southeast asian restaurants. gmos a engineered to improve production pests or require less water to grow. by the fda and surprisingly plentpr n 90% of cor

mylan shares for every perrigo share.now rejecting that offer saying it is not higher and there is a little bit of dissent between the companies among the value of the offers because mylan shares have risen in the wake of teva's did for that company. perrigo says because of that inflation in shares, it is not actually worth what mylan is saying it is worth. mylan had rejected that teva bid trying to acquire perrigo to make it a tougher target for teva. you can keep track of all of that. you win the prize. this is an ongoing situation. this is not the less we will hear about it. olivia: investors excited for mylan to do the deal. thank you so much. julie hyman from our breaking news desk. ben bernanke. a new job. where is he going? matt: he is going to make even more money now. olivia: with pimco as a green -- with pimco as an analyst. matt: this guy, you can say what you want about his policies he worked his tail off. olivia: i thought you said -- i but you're going to say he's a sassy blogger. matt: the big money behind

mylan and teva moving higher, but mylan still sees a gain of 9%. $74.21, the important number to lookt is that it is still below the $82 per share cash stock offer that teva has made for mylaxer an. let's move to today's overall action. four dow companies that reported earnings this morning, two of them are largely responsible for the drop you see now on your screen. travelers and dupont. they are the biggest point drags on the blue chip index accounting for about 30 negative dow points, that's more than half the current 67-point drop here. now 73-point drop. what is the trade? we bring in traders, elliott, i'm dying to get to you, but relate me get -- let me get to teddy first. we had ibm, dupont, travelers and united technology all with nothing really exciting on the earnings front, and that's what's dropping in this market here. what happens now to the dow as we head to the closing bell? >> well, i think, liz, and i mean, that addresses what the market did in the first quarter, what it's dope for most of april -- done for most of april, is we have a stock market in general that's p

recently made $43 billion for mylan.shares of perrigo down 3%. shares of mylan down 2.5% and shares of teva up 1%. >> a quick note that the m&a activity in the health care space and the biotech and pharma world continues apace and that's why for all of us talking about a bubble or lofty valuations in biotech, that's why they stay at these levels. m&a activity. >> enough to own something like an ivb or -- >> that's a great question and it's a different question. no, i would not be buying these here at these valuations, but i'm just explaining why they haven't come down. after months, many months of us talking about this. >>> coming up, debating tractor supply, the company beating wall street expectations, but is now the time to get into the stock? bulls versus bears. actually josh versus the desk. that's next. >>> but first, a look at the s&p 500 hitting a record intraday high for a second day in a row. [ male announcer ] we know they're out there. you can't always see them. but it's our job to find them. the answers. the

liz: we have to talk about drugmaker mylan. mylan posted big gains. nasdaq higher after offering by fellow drugmaker that broke earlier today. one index that held on to most of its gains. >> nasdaq was outcoming today, if you look at mylan and perego hit all-time highs on this news. david: i have to mention this, alibaba up big time. [closing bell ringing]. david: up over 3%. we had someone say by buy it early. he was right on the money. liz: here are the bells and a little bit of confetti at nasdaq, that's nice. liz: on a day we got federal reserve minutes from the most recent meeting, in march, gyrations of up peck proportions, up, down, all around. dow jones industrials seeing a gain of 26 points of the not the highs of the session, but pretty much up there falling into the red after minutes came out. s&p 500 also in the green. up five points. nasdaq showing real -- david: nasdaq up 40 points today. the very big move on nasdaq. that has a lot to do with a particular stock. we'll tell you about it. we have a busy hour. "after the bell" starts right

go aheadup. >> i think you take profits here. >> i've got my eye on mylan. funny today, the letter mylan to testifia, with what a pleasure to meet you, and then called it dysfunctional and that they were doing a much better job. i'm going to buy some. >> >>> harley-davidson, hog. >> reported a week and, it's a buy. that's exactly what happened, going higher >>> i'm melissa lee. thanks for watching. meantime, do not go anywhere. "mad money" with jim cramer starts right now. \s >>> my mission is simple -- to make you money. i'm here to level the playing field for all the investors. there's always a bull market somewhere, and i promise to help you find it "mad money" starts now. ♪ ♪ >>> hey, i'm kramer. welcome to a special "mad money" from one market, cnbc's new home in the heart of san francisco. other people want to make friends, i'm just trying to make you a little money. my j

mylan publicly rejected them before they made the offer. it recently made an unsolicited $29 billion bid for another company. european policymakers are growing more resistant to helping greek banks. people familiar with the matter say the ecb may reduce the amount of cash banks can borrow for a given amount of collateral. all of us is happening while you're at ways to see if greece will agree to new packages of reforms in return for more bailout money. without new funds, greece may run out of money. in an interview with bloomberg news, the former ecb president says no one is optimistic about greece. >> we have to be totally realistic. it all depends on the maturing of the position of the government. understanding that if it wants to deliver growth and jobs which is the main goal, of course, the government, it has to produce recovery programs. mark: the former president says he hasn't heard any finance ministers suggesting that a greece should abandon the euro. senate leaders announce plan to move forward on a stalled human trafficking bill,

mylan is trading below that $82 a share offer.e rate of fund that tracks biotech funds is off about 25% year to date. we should mention as well that all three indexes got within 1% of matching their record highs. no economic data on the calendar. investors are looking at overseas events. also waiting on more evidence from companies seeing how they are position for the rest of the year, especially with the dollar strengthening. we are getting into the heart of burning season, and more tech companies will be reporting this week and next. julie and i will be covering yahoo!, yum brand and chipotle earnings when a pop over the next few minutes. alix: i'm here with lisa abramowicz. credit greece -- credit suisse chief economist, james sweeney. bill gross things will be a time to short german 10-year bunds. take a listen. bill: the eurozone and ecb quantitative easing program will end, and one of the reasons for the overvaluation has to do with mario draghi and his program of 60 billion euros a month in terms of buying power. you don't

perrio rejected mylan's latest offer, 6.2 shares and 60 bucks in cash.resting there, the expectation with the people familiar with the situation that mylan will continue to come after perrigo. it is not anywhere done in trying to improve on the price it will eventually pay. here we got some time to go. the clock has not yet started and will not start for quite some time. what we did get last week before it was quickly rejected was that firm offer if you will or at least the idea of commencing a firm offer. we got the mix, in other words, cash and stock and got assurances on the anti-trust side. all of which at least for its part mylan feels is important in the market to understand and perrigo to understand. when it rejected initially perrigo said it's all about price. price, of course, been do up as i reported last week but the expectation is that it will go up. the question for mylan, of course given the large stock component of its offer, how does it convince perrigo its stock is not greatly inflated as a result of the bid for it. no doubt it is in par

periggo rejected a deal from mylan. that is the second dismissal this week. but mylan doesn't just want to acquire periggo, it also wanted to fendoff a take over attempt by teva. the latest offer under values the company. and periggo dropped 4% and teva added nearly 2%. >>> to the u.s. economy now where march durable good orders for big key ticket itemsupped 4% the largest increase in eight months but the rise was driven almost entirely by higher demand for defense, auto and aircraft orders: and an important measure of future investment fell 5%. more than estimates. the seventh straight monthly decline. >>> and that decline in business investment prompted a number of economists to trim forecast for firs growth which the government is due to report last week and that is the most widely followed measure of econoc health. but a comprehensive look at first quarter data over the past 30 years conducted by steve liesman shows there may be a big problem with the numbers. a trend that some economists have confirmed. >> the latest tracking data show another weak first

of course mylan already has made its own bid for parabo.bout this on the day. "squawk on the street" starts right now. >>> good morning and welcome to "squawk on the street." carl is on assignment. jim has the day off. he will be back tomorrow. of course glad to have you joining us today. take a look at futures as we start off a half hour from the beginning of the trading session. on a busy news day. is there a look at what should be a highe

julie: teva made an offer for mylan. mylan is now raising its offer for periggo. values -- that this offer values perrigo at about 25% premium to where it closed yesterday. mylan says it secured financing for the offer and mylan holders would own about 61% after closing. we will see what perrigo comes back with. betty: thank you julie. number three, hillary clinton acing scrutiny over her financial and charitable affairs. an explosive revelation comes amid a flurry of allegations made. author peter schweizer just spoke to us. we don't actually have that soundbite. he was saying there has been a pattern of misbehavior. we actually do have the soundbite. peter: these 1100 donations that they never disclosed. they were supposed to disclose all of them. a simple requirement that president obama put in place as a condition for her to be appointed secretary of state. betty: he says there is no evidence but there is a pattern of behavior that he likens to insider trading among the clintons. lisa: because basically they are accepting donations to grant favors. a lot of pe

. >> no deal irish drug maker rejecting mylan's take over bid putting pressure on the u.s. giant to accept a $40 billion dollar from tevo. >> a move that could raise $9 billion as the business continues to decline. >> the fall out spreads from the bird flu outbreak. mexico is halting imports of poultry and eggs from iowa. >> welcome, everyone. let's take a look at premarket trade. what can we expect on this wednesday morning? a mixed couple of sessions over the past couple of days giving a mixed set of earnings. mixed income data weighing on investors sentiment. also pointing out that while the broader market's direction is getting harder for many to ascertain, one thing is crystal clear. health care continues to out perform. we'll be speaking about the bio tech trade given the set of earnings out last night. right now dow is down about 87 points. some of that might have to do with what's taking place here in europe. the focus seems to be on the economic data plus the greek negotiations taking place with international creditors but it doesn't seem like we'll get that reform

kate, i'm just wondering what you think about this mylan deal.ng no way, nothing to do with the space coming under pressure today. look, the deal environment for these health care and biotech and pharma names is unbelievable. the extent that they've grown and extent to which their big and anticipation had nothing to do with it? >> people feel we're going to see less activity and enthusiasm out of the valuations in the short term. i think its been where people are looking to see action as we did with telecom in recent years. hedge funds looking at that as sort of the next frontier of opportunities. so, i think that it could be a signal moment maybe more symbolic value than technical. at the same time, i think to sarah's point, i've been asking people in general about the stock market whether they still feel good about valuations here. interesting story over the weekend talks about how a majority of people did tart is to feel that way at 7.4 for an s&p. and i'm hearing, you know, it depends on what you're talking about. if you look at the weakening

mylan says that it was 8% higher. at combination with perrigo would help mylan avoid being taken over. china stepping up efforts to crack down on insider trading and market manipulation. that is according to a statement on their regulatory commission website. this decision follows wild swings in the stock market. including a swing in shanghai on speculation the government would increase a tax duty. the greek finance minister at talks in latvia today. he made clear that greece cannot make shortcuts to get additional aid. >> it was a very critical discussion. we came to an agreement two months ago and we hope to hear an agreement on which we could make a decision and we are still far from that. emily: varoufakis sees it differently though. here he is speaking to it afterwards. mr. varoufakis: otherwise we would have smoke coming out of the chimney. it is our view that we have no right to achieve this agreement. emily: in the meantime, a economists say that a greek default does not necessarily mean that the country would

it argues it is not as high as it seems because mylan stock has been inflated by teva's takeover offerering to buy it for $40 billion this week. hsbc says it may move its headquarters out of the u.k. the reason, rising tax and regulatory costs. hsbc could end up in hong kong, a logical place since the formal title is the hong kong and shanghai banking corporation. politics may be involved as it is less than two weeks before the british election. hsbc might be trying to pressure politicians. john boehner says hillary clinton is a good public servant but she has explaining to do about the way she handled official e-mails as secretary of state. he spoke in an exclusive interview with "all due respect." john boehner: she violated the law and the idea she was going to use her own server and do official business on it has every transparency issue the president likes to tout. mark: speaker boehner also said both clintons need to explain their charitable foundation and donations they received on foreign governments. you can see part two of the interview with john boehner tonight on "with all d

mylan has offered to buy perrigo for $29 billion, its largest acquisition ever. says its board will meet to discuss the effort -- offer. a shakeup at the struggling games company zynga. ceo don mattrick is leaving his role and the board. founder and chairman mark pincus will return to the position. last quarter zynga posted its first sales increased since 2012 but it's string of losses extended to six quarters. zynga's shares are down in after-hours trading. google plans to launch a youtube subscription service as soon as this year. the feature would allow paying subscribers to watch youtube videos without having to sit through ads. revenue will be shared between google and video creators. this is according to an enough from google obtained by bloomberg news. now to the lead -- apple has a lot riding on the watch. the company's first entirely new product since the ipad in 2010. while it doesn't hit stores until april 24, the first reviews are coming up. bloomberg's josh to falsely spent a week with the watch and can tell you if it is worth your money. josh: the a