lemonis: i think the name "natural pet market" is really good.me. tracy: i do own the trademark on that name. i actually wanted to keep the name. lemonis: look, this deal is not going to be as simple as i thought. the name has to be part of this acquisition, and we're going to need to figure that out. we need to think about this. ♪ susan: so, lisa, what i did was that i kind of printed out what we spoke about. lemonis: lisa told me about this company, royal animal, out of new york, that specializes in soft goods, particularly pet clothing and accessories. in order for the overall margin to grow from 47 to 50-plus, we have to incorporate things that have a 60-plus percent margin. and so i want lisa to focus on things that are going to give her that. susan: this is, like, this kind of canvas material. lisa: and our chicago store, it would do great in. giovanni: i definitely don't think that will sell. lemonis: what's something like that cost? susan: we're wholesaling it for, like, $12.99. lemonis: what's the suggested retail? susan: i would probabl

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we are talking about a $30 billion overall market for pet food about 10% is natural this company hasvering competent annual net sales growth of 12%, annual adjusted growth of 18% over the last three years. general mills making a big statement by making this decision you can see its stock is a bit weak it is not using that as a currency here. so that's simply the response of some shareholders at this point saying, okay, maybe we get it, but it is a big, big price you're paying. we will take them into competition with the likes of mars which owns the pet food brands pet food and actually they did a deal to acquire bca also you can see some of the names here under the general mills banner, and now will represent i think about 7% overall of the company's overall revenues i got my pie chart i'm looking at yeah, they're saying it creates a compelling additional growth platform >> well, we're reminded of their last big deal for annie's, right? $820 million in cash three years ago, right 2014. >> yeah. >> again, natural. >> yeah, and this obviously a much larger deal, relatively new manageme

pet food. the deal valued at about $8 billion. blue buffalo shares have soared this morning in pre-market trading. blue buffalo makes natural food, treats for dogs and cats. of course, general mills, they make major cereals in the u.s., including cheerios and wheaties and known for owning pillsbury. not quite a done deal yet but it should be closed by the end of the year. >> interesting. thanks, jessica. >>> work under way to bring the smart train to another city in the north bay. crews have begun modifying a downtown san rafael street. it's the first significant work to benefit kmiert trains. commuter trains. you may see closures near the transit center. >>> winter never got going for a ski resort in yosemite. badger pass will not open for the ski season. this is footage from past seasons. in a facebook post, it said it didn't get enough snow to justify continued operation. it's offering season pass holders the option of a full refund or rolling over their pass to next season. >>> a california state senator resigned over sexual misconduct allegations just ahead of a possible vote to expel him. senator tony mendoza stepped

market is exhausted. >> the dow jones industrials closed 1,175 points lower today, which is the biggest single day drop in history. it's the worst drop since yesterday. beyond is a natural pet food that goes beyond assuming ingredients are safe... to knowing they are. going beyond expectations... because our pets deserve it. beyond. natural pet food. >>> welcome back. you're watching msnbc. lawyers for president trump say he should not agree to sit down with special counsel robert mueller. that is according to "the new york times," saying, quote, lawyers are concerned that the president, who has a history of making false statements and contradicting himself, could be charged with lying to investigators. can you believe that's what's being said about our president? this comes in the midst of mueller's ongoing investigation of russia's interference in a 2016 presidential election. let's break this down. i want to bring my panel in. a political reporter for real clear politics. and msnbc justice security analyst matt miller. and charlie sikes, who i am thrilled to see, but i'm not starting with you charlie, i'm going to matt first. what would refusing an interview with mueller

natural balance and the other pet foods are for decades. why do they want this? because of the size of the pet market. 2013 americans spent $55 billion on their pets. fast forward and you could see the trend line higher to last year according to the american pet product association, americans spent nearly $70 billion estimated on pets last year and of that, guys, about 29 to $30 billion just on food back over to you >> that is a lot, dom. and i know that you live up near the blue buffalo headquarters in connecticut and you know people that work there. have you talked to anybody $8 billion for a pet food company, it is some kind of record and shows the value we put on our pets. there has to be some surprise. >> i haven't spoken to anybody personally that works for the company but imagine this is a large company based in fairfield county, connecticut and in the town of wilton and i don't think people thought it would be an $8 billion company when they went public. so this is a huge deal but it goes to show how a lot of consumer products companies are trying to face that slowing growth for the core prod

market's reaction to that. this is going to be a big deal, too. also in deal news, general mills is buying natural pet billion. that deal is worth $40 a share in cash compared to yesterday's close of $34.12 for blue buffalo. general mills expects the deal to close by the end of its fiscal year in may. >>> also, breaking news out of china overnight, the government there seizing control of the anbang insurance group and is prosecuting the chairman for what it calls economic crimes. regulators say the company violated laws which it says may seriously endanger the solvency of the company anbang gained recognition in 2014 with its $2 billion purchase of the waldorf astoria. that $6.5 billion deal with the blackstone group joe? >> yes, in other corporate news the world's biggest asset manager is looking for answers from gun makers following last week's deadly school shooting. blackrock is the top share shoulder in rueger and american outdoor and vista. it holds stakes through the etf and index mutual funds it's all in passive investing products blackrock doesn't have the ability to sell shares even if it di

8 billion dollars for natural pet food giant reentering the pet food business after leaving the stock premarket blue buffalo up 16 and 3/4 percent general mills down 4% varco marketed out a billion 1/2 dollars market value from snap the fallout as kardashians ignite investors' worst fears for snap down 1%, ice out of winter olympics american scarcity worst showing at games since world war ii. >> topping news half an hour futures to higher opening through stock market this morning, what do things go from here the rest of the year where is growth coming from coming years joining me co-chief executive offer carlyle group glenn youngkin thanks for joining us growth in the world today you see market volatility, you see things getting better in the economy, where is the growth in your view. >> everywhere. >> really how good it is. >> how good it is we have a global economy, that is for the first time in really many people's professional lives growing synchronized fashion by good fundamentals strong growth in europe strong growth in united states strong growth in china, india had a little bit of hiatus because was policy moves by prime minister all of a sudden recoverin