perrigo was trading flatline around 165.d job and perrigo did a good job keeping it quiet. this is a proposal. scarlet: it is not a done deal. it is the offer being made. we had a valuation on the deal -- $28.9 billion. the premiums so far in the second quarter, the average premium of deals, the second quarter is not very long, is about 14.26% according to bloomberg. in the first quarter the average premium was 20%. this is far below the historical average of about 22%. stephanie: all right. thank you for giving us the latest. we've got to move onto presidential. politics and a bloomberg exclusive. senator ted cruz will truly be a candidate to be reckoned with. sources tell mark halperin that a group of super pacs tied to his campaign will have raised more than $31 million by the end of the week. mark joins us from chicago. $30 million can you put that in the context? a guy who many people say there's no chance he's going to be the next president. mark: not that long ago if you were going to run for president and someone tol

this is just a proposal, $205 a share, mylan proposing to buy perrigo. 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 -- it works for a certain consumer. someone who has an iphone 5 or later, tied to apple software like messages, itunes and that sort of thing, and if you're someone who likes to try new things and don't mind this is the first generation of a product getting sorted out it's something that might appeal to you. there will be a certain contingent that will buy it no matter what because they like the brand, whatever you want to call them, but this category of smart watches still relatively nay

perrigo is where?> perrigo's an israeli company with michigan plants that is in pennsylvania that is chiefly an irish company. >> and mylan is -- >> it's a melting pot. >> mylan's in the netherlands, of course they inverted through the abbott deal. yeah. >> it's great country. >> brent saunder figured it out. watch malloncrot. sorry "wall street journal." it's 192 bid this weekend from j and j, i'm not playing that game. i go to david. is this a done deal? he said do not put that in your -- do not put that in your game plan. so i left it out. so suddenly i wake up the paper next day, i'm an idiot i didn't say that the deal was done. thank you very much for making me not look like an idiot. >> you are welcome. >> can be an idiot for other things, love for the apple watch. >> on sale tonight 3:00 a.m. pacific, are you going to be up? >> i've got two bands. going for two bands, one watch. >> will you order 12:01. >> not like people going for the who concert two weeks early. i'm going to the store. >> onli

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 mean something again. >>> they will not begin efforts to rebuild the country based on a security council resolution. you're looking at video of the air strikes that hit the capital earlier today. >>> a strong storm system lashing australia's coast has left dozens of residents stranding and swirling floodwaters. it may have led to the deaths of three people. the storm has been pounding sydney since yesterday. it's dumped more than a foot of rain in some areas. >>> bobbi brown's attorney is clarifying comments by singer that his daughter is awake. the 21-year-old has been in a coma since january. the attorney is saying whale she has opened her eyes the quality of her life will not be known for some years to c

perrigo is saying he will be rejecting that offer.cutives 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. you would not think as they greeted negotiations dragged on the greek stocks would be higher but they are heading for the biggest weekly advance in more than two months.

how much do we love perrigo? plus just because world deutsch blew it it doesn't mean smarter companies won't be discouraged to buy properties that are worth a lot more than they're selling for. as rich morgan recently did with that pipeline purchase. maybe he is in need of a spare billion. i shouldn't need to remind you how positive lower energy prices are for the stock market and economy. there is some hedge form that uses oil as a barometer of economic strength. concern after friday's ugly unemployment number this might mean something that's dire and scary. there are plenty of funds that sell it for some sort of reason. the market can be very stupid. we're being given a gift or maybe a reprieve from an oil spike spoe that would have undone whatever we've had here. sorry for not being more negative. maybe i'm the only one that feels richer when i pay less at the pump. somehow i don't think so. how about alvin in michigan. >> caller: i would like to thank you for all your hard work. my question is about facebook

i think perrigo is okay to own here. i do not think it's over.the way mylan -- they can't do with shares, they need -- their shareholders need to approve this deal. the shareholders won't go for it if it force teva to walk away so there's still more to come. that's why you can own any of them. >> it's a zero sum game. who has the most to lose? mylan up 32%. that's the one -- as karen started off, that's been inflated. if this gets longer in the tooth that probably comes off more precipitous than the other two up a third. >>. >>> coming up, two big oil companies, exxonmobil and conocophillips out with earnings tomorrow. the traders take their positions ahead of the reports after the break . >>> oil at its highest levels for the year, now some traders are running from their baearish bets on energy stocks. >> the energy select btf, exxon and chevron make up almost 30% of the weight, when that was traded around 83, there was a trader selling out of some puts, some down side puts in june. there was 5,000 of the june, 75 puts sold to close at 45 cents

i don't think perrigo wants to sell at any price. it's worth it for mylan to go beyond the offer because they stumbled on one time only issues that interrupted the fabulous long-term trajectory. it is at a big discount from where it could be next year. for the record if you are drinking a guinness right now, you are more irish than this company. don't forget i've been recommending perrigo for years because of its link to the new frugality. the desire to pay less for knock-offs exactly the same than the more expensive nationally branded stuff. it's possible teva could be interested in buying one or both of these companies. that's a big reason mylan ran so much yesterday. even if it might pay more to get perrigo. we see the same behind activist being a significants. here are two deals that have wall street excited. actavis started off as watson pharma. actavis was able to pay a high price for allergan because it was able to purchase another company years back. no u.s. drug company facing a higher tax regime can compete with them in the

the mylan/perrigo deal is less challenged. they have the private label things you see in walgreens, that's a little less challenge from a regulatory point of view but the mylan/teva thing is more challenged. if the two ceos can get together and have a proper discussion maybe they can go to to the regulators together and make it work. >> what do you think needs the deal more? 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 st

you may recall some time back mylan made a proposal to acquire perrigo. then the price was $205 a share in cash and stock. they did not detail the composition of that. they did say it would be worth $205. that was when mylan stock price was far lower than it currently is. why? since then teva decided to bid $82 a share. the commencement of this formal offer seems to actually be lower than the original offer. if you assume the unaffected stock price of mylan. for teva's part they have stock prices $55, $81 before rumors began about the possibility of teva coming after the company. if you assume $60 and you do the new ratio of 2.2 times mylan shares plus $60 a share in cash you get a price below or right around the $205 they offered originally. they are probably going to reject it. on the other side of this we have teva which continues its pursuit of mylan despite the fact mylan has a particularly corporate structure as a result of its incorporation in the netherlands called a foundation which will give four trustees the opportunity to call for 50% of the v

mylan propose to go buy perrigo. meg joins us on set with more. meg, good to see you.ylan seems to need to buy. >> that's what a lot of people are saying, whether it's a place of need or opportunity. stock went up a lot. shareholders clearly continue to award buying. so it's interesting here about perrigo and mylan. maybe they don't make so much sense. they both sell generic drugs. but what perrigo is big in is over the counter health product that you see in walmart or walgreen's. they make the generic over the counter versions. there's another interesting angle. a lot of analysts were saying did mylan get some kind of offer? there 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.

perrigo is an irish accompany.t 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 earnings last night. we're back live from one market in san francisco in a moment. doug. you've been staring at that for awhile, huh? listen, td ameritrade has former floor traders to help walk you through that complex trade. so you'll be confident enough to do what you want. i'll pull up their number. blammo. let's get those guys on the horn. oooo looks like it is time to upgrade your phone, douglass. for all the confidence you need. td ameritrade. you got this.

perrigo has turned this down saying it sounds better than it is.ong in the short of this is tebow once to buy mylan before mylan buys perrigo. mylan once to buy perrigo so it does not get taken over by teva. everyone claims they don't want to be taken over at the prices being offered. mylan is a generic drugmaker, as is teva. perrigo sells storebrand versions of over-the-counter medications. none of this is a tax inversion deal because they're all incorporated outside the u.s. saving on taxes is not part of the motivation here. alix: thank you. to house passing two cyber security bills this week, and the bills will encourage companies to share cyber threat information with each other and the government. critics say they are quote surveillance bills in disguise. joining me to discuss is a republican congressman. he is a former undercover officer in the cia and senior advisor to a cyber security firm. thank you for joining us. guest: thanks for having me. alix: how do you convince companies to share data with each other and the government? guest: the

mylan coming out with a bid for perrigo earlier this month.sy move to interest from teva. folks seem to be looking at this positively. teva up almost 3% today. perrigo becomes the questionable party here. it has not responded to mylan's interest yet. just getting analyst reactions today. they are saying the anti-trust concerns mylan brought up as a preemptive response to teva's interest may be overblown. those can potentially be managed through divestitures. mylan brought up cultural issues that potentially would have with teva. said it considered this bid for a while but sees those as insurpassable. saying those can be traversed as well. the problem is that teva is going hostile here. very questionable path forward for whether it will see success. back to you. >> we'll wait to see if it responds. thanks, meg terrell. >> morgan stanley shares higher. yesterday the company reported a 60% rise in quarterly profit thanks to higher revenue from trading bonds and equities. this as the company continued to shift its focus to wealth management. here

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, 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 pvalentpr n 90% of corn and soybeans produced here are genetically modified. chipotle's move has been in the works since it became the first chain to voluntarily disclose which foods contain gmo ingredients. founder

when it rejected initially perrigo said it's all about price.ourse, 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 part for that. even though that deal seems a long way of having any hope. in that, i would direct to you yesterday's letter which we briefly mentioned since it did hit during our show. a letter like this is worth repeating. i got some parts in terms of, let me read to you, there is rob cory, during our meeting talking to the ce of. we touched on teva's many struggles, over the last several years and the result of strategic confusion, teva's consist under performs and our increasing need the find new source us of future growth. for your leadership you have the opportunity to set the right tone and show the world there is a new teva. instead you chose to demonstrate the old teva is very much alive and becks question

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 have to leave the euro. samsung has continued production of its curv

mylan has offered to buy perrigo for $29 billion, its largest acquisition ever. says its board will meet to discuss the 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 apple watc

the perrigo deal would be mylan's biggest yet.t would help the company from being taken over by israel's teva. strong ratings for the ncaa tournament. hbo did profit slightly. now to the lead, it's twitter in trouble or is it a business that is misunderstood? shares getting hammered today down 22% of the company's earning report slipped out earlier than expected thanks to shareholder.com. the reason shares are down is this, twitter's user growth is slowing. twitter is also cutting its revenue forecast. it had much -- more trouble attracting advertisers when it was pushed to a new fee structure. we will talk about what that means with victor anthony at axiom capital management. victor, let me start with you. what was most surprising about these numbers despite -- besides the timing of the release? guest: they miss their own revenue guidance for the quarter. given they had over one month of operating results under their belt when they gave that guidance, when they reported fourth-quarter numbers on february 5. that was bad. i think

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 right before all of this stuff with teva started to come out. we actually talked a couple of weeks ago about that poison pill they put into place before this came out. that makes it potentially even more difficult for teva. the only thing we know right now is this could last a really long time if hi

mylan sweetening its bid for perrigo. less than a week after perrigo rejected an earlier bid. perrigo is likely to reject this latest offer as well. walmart expanding in the people's republic. retailer planning to build 150 new chinese stores by 2017. >>> when you hear white collar crime you think of curby country club prisons. that's not always the case. tonight andrew ross sorkin will show us what life is really like on inside with someone who has been on both side of the law. former nypd commissioner and convicted felon. >> 18 months have passed since bernard carrick left prison but the memories eat at him even as now he can return as a free man. >> i don't know of anyone any real human being would show up at a prison and think oh, this isn't too bad. it sucks. it's the worst. >> the prison system wants to you act like a man, agent like an adult, to act with integrity and respect, but basically treated like a child. >> do you ever get adjusted to that. >> no. you don't get adjusted. >> catch "white collar convicts life on the inside" tonight at 10:00 p.m. eastern on cnbc. >

perrigo bought and moved to ireland. >> thanks very much meg terrell. obviously, you will the biotechs move. now over to the huge deal in the gas sector. jackie deangeles at the nymex. jackie. >> hey there sarah. that's right. a big deal. really in the energy space overall. not only the largest deal that we're seeing this year royal dutch shell buying be group, but the third largest deal on record according to thompson reuters. bg known for oil and gas assets and actually that's one of the reasons it was so attractive to royal dutch shell. it will boost its portfolio by 25%. the other reason looked like the timing. right now it's good because bg has seen about a 30% decline in its stock price since we've seen oil prices decline last summer. now, with shell paying about a 50% premium here loofr people are saying this was the right time to go in and some are saying it's because they're trying to sort of out bid or create a situation where exxon does not come in with a counter offer. if others don't rebound the way shell was counting on this valuation coul

and perrigo rejects bid from mylan putting pressure on them to accept teva's take over offer. >> tradingghtly mixed. somewhere in the region of half a percentage point on the chart. >> we're now down about 40 points in premarket trade. s&p 500 imlying a lower open as well by around 4 points. earnings will take center stage once again today. >> yeah, lunch is coming up. chipotle's first quarter profit rose 48% beating forecasts. revenues up 28%. that missed estimates as same store sales rose unexpected. they still see wage growth in the range of low single digit percent percentage wise this year. >> and yum brands first quarter profits beat profits as same-store sales fell 12% in china. the fast food giant is confidence this year. shares rose about 4% in after hours trade. right now trading up by around 4.3% in frankfurt. >> now mcdonald's reports first quarter results before the bell with analysts expecting earnings of just over $1 per share. 1.06 per share. they missed earnings amid head winds from chinese meat scandal and health conscious consumers. analysts are expecting the 5th strai

perrigo came out and rejected the offer mylan made earlyierier in the month.t rejection, by the way, was kind and calm. it didn't throw a lot of rocks. it simply said hey, we think we're worth more and that's important. it's important to measure a rejection because it gives you a sense to the willingness of a accompany to engage down the road. on that engagement what i can share with you at this point is the expectation among people familiar with the situation is mylan will be coming back with a firm offer. an offer under irish law that will include firm financing commitments which they are paying for and paying a lot for and firm commitments to move ahead, things like ticking fees and showing a real commitment to get this deal done. as for what the new price will be or a higher price for something they offer, unclear. mylan is far from done in pursuing perrigo and showing their significant focus on getting the deal done by firming up financing commitments it will be paying for. that is no small matter. now, back to tevis offer yesterday invailed $82 a share.

mylan making an offer to buy perrigo for about $30 billion.e other stocks in that sector that could be ripe for m&a. plus the two sectors you need to be buying now before the federal reserve begins to raise rates and would you let your life insurance company track your every move if it meant you get a discount on your policy? one of the biggest u.s. insurers is betting you will. good idea or opening a pandora's box? we'll discuss on "power lunch." >> the halftime report with scott wapner is the place for market moving interviews. >> when you see large currency moves and large price moves in a commodity like oil, you have to be worried. >> real money. >> what makes things cheap is uncertainty. >> real debate. >> interest rates are going to go up, they can't drop as much as they did last year to this year. >> the most profitable hour of the trading day. >> do you think dick costolo if the stock has doubled you haven't missed it. >> the halftime report weekdays at noon eastern. let me talk to you about retirement. a 401(k) is the most sound way t

so shares of perrigo down 3%.res 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 solutions. the innovations. a

mylan has a $29 billion bid on the table for perrigo.use 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 environment. however, the buy rating remains the same.

. >> perrigo, lost in the shuffle? >> possibly. i've been going over perrigo's, very interesting.at good. walgreens say not that bad. >> axp. tailing it to neutral. >> i have to go over that because he has this key line my charitable trust owns twitter. i know this will have an impact. i wish it week but it will. >> as david has talked me. another guy saying -- you play that game google doesn't buy them and then people say kramer, why did you say to buy twitter? i'm saling that peck is good the google talk i'm not buying it. >> that crushed it. peck is good. this was pawed. >> how about disney, new high? we saw downey there. >> and citi has it 110 to 125, the pipe did not line is big. don't forget "star wars", shanghai. >> that was a good piece, who runs the parks, and considered to be the heir apparent. >>> who has had one heck of a run. >> and big in fantasy. >> some of the valuations for some of these prime companies have been pretty rich. as the leagues warm up -- >> that's what i'm thinking. >> adam silver with that incredible -- >> s&p 21122, a new high on the s&p 500. >> we

mylan buys perrigo for two and a half dollars a share.any wonder if this is an attempt to bypass corporate taxes, it is not. perrigo is based in the u.k. mylan has been searching for acquisition for a while now. this is a profile. we have tallied up the previous deals. 45 billion dollars worth of transactions. 19 separate transactions. the current one at $28.9 million is in cash and stock. in terms of the largest one mylan never attempted anything like this. the last in was for $6.6 billion in 2007. this was four times the size of that. we should mention in february they offered to buy contraceptives pour seven hunt -- for 700 16 million dollars in cash. that is still pending. >> here are the top stories we are watching. dzhokhar tsarnaev has been found guilty of carrying out the 2013 attacks on the boston marathon. three people were killed and more than 200 injured. it was the worst attack on u.s. soil since 2000 one. jurors will decide whether to sentence him to death or life in prison. minutes from the march meeting show policymakers w

the board of perrigo will discuss the takeover offer by mylan. the masters gets underway today but it is hard to believe the tournament will have any more magic than what we saw in yesterday's par 3 contest. that shot was jack nic klaus -- hole in one. brendan: the golden bear. olivia: the golden bear. his first ace at augusta. brendan: there are a whole generation of people watching it saying, of course. olivia: those are your top headlines. brendan: listen to her speak of the eight iron, as it is -- as if it is a thing that we know of. olivia: my father has had three holes in one. brendan: all right. from the golf course to london. alexis tsipras is return from moscow. his finance minister is in paris. the country will pay the imf half $1 billion. jonathan ferro joins us from london. can greece make its own pension payments this month? >> that is a big question, isn't it? you still have to meet the payments for salaries, pensions. it is unknown whether they can do that. you have to navigate all of these things leading up to that eurozone credit

for mylan, it could make sense to buy perrigo.e 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 are we seeing so many deals in the pharmaceutical sector right now? manuel: i think we are poised to see a lot more. as big pharma are faced -- [indiscernible] they have to look for acquisitions to rapidly move and bulk up their pipeline. i think we are going to see more. it is interesting about these deals. we are talking a

it recently made an unsolicited $29 billion bid for perrigo. farm in iowa is the latest to be hit. more than 5 million hens may have to be destroyed in a state that produces one of every five eggs eaten in the united states. almost 8 million turkeys and chickens have been destroyed since march. we have reached a milestone in new york. ridership on the subway system has reached its highest level in more than 65 years. more than 1.7 billion people rode the subway last year. that is an increase of almost 3%. coming up, hip-hop queen mary j. blige has a new album coming out and a new documentary. plus, our investors hunting for a bear market? will be speaking to the chief u.s. strategist at goldman sachs david kosten. erik: is moore's law hitting a dead end? gordon lewis predicted that the power of a chip would double every year. even think moore's law for the technology that powers your iphone and your car. today there are 1.4 billion transistors on intel's chip. the next processor will have even more. physics may be standing in the way. steve, i

david faber reporting mylan is offering a new offer for perrigo. they rejected an offer saying it's just too low. >>> energy again a big story today. crude oil prices fell almost 2% yesterday closing at $55.26 a barrel. today we're sitting at $56.34 a barrel. let's get out to brian sullivan who joins us now from the ihs wheat conference in houston. how is it going down there? >> you know it's going fine. i always love houston, great people, great town, and really there's two reasons we come to conferences. number one, learn stuff. number two, because it's an easy one-stop shop to corner some of the biggest and baddest ceos out there. billionaires, guys running companies, women running companies. they're all here in the energy business. it's a great place to learn and we had an opportunity to sit down with a guy that many consider to be the single smartest guy in the oil and gas industry, rich kinder who is the chairman around ceo of kinder morgan and i asked him about prices. is there a perfect price for crude oil? >> no i don't think there is beca

we will see what perrigo comes back with. betty: thank you julie.illary 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 people, this also follows the lack of disclosure with her e-mails. there is a feeling of a lack of transparency. alex: on the one and i would say it is somewhat politically explosive because it is a pattern, on the other end, do we really think hillary clinton is not going t

we actually have more breaking news, and this involves generic drug maker perrigo, it is set to rejecthat $29 billion takeover offer from mylan labs, and it's expected to happen this week. reuters is reporting that the rejection would leave mylan with no alternative to a takeover offer that came today from teva pharmaceutical industries with a $40 billion unsolicited bid. mylan is a company that is trying to keep everybody away and make its own acquisitions but, clearly, you can see the reaction in the stocks right now. mylan and teva moving higher, but mylan still sees a gain of 9%. $74.21, the important number to look at 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

meanwhile drug maker mylan is offering to buy rival perrigo for $25 million.es fell more than 6% today, erasing all the gains for the year on a bigger than expected supply of build. that's it for cnbc first in business worldwide. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at ny.gov/business (rain fades to music) (rain stops) ♪ there we go. ♪ anncr: lease an mkz for $299 a month plus competitive owners and lessees get $500 bonus cash, only at your lincoln dealer. [ male announcer ] some come here to build something smarter. ♪ ♪ some come here to build something stronger. others come to build something faster... something safer... something greener. something the whole world can share. people come to boeing to do many different things. but it's always about the very thing we do best. ♪ ♪ the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all

a deal would create a medical powerhouse -- the offer is a 25% premium for perrigo. jamie dimon said that last years's volatility is a warning shot to investors. the chief executive of j.p. morgan chase said that the next financial crisis could be exacerbated by the shortage of the security. south korea central bank held its key interest rate at an all-time low of 1.75%. they are likely to cut rates three times as information rose -- as inflation rose. you can find more on that story at bloomberg.com. caroline: you can join in the conversation with us on twitter. let us know -- do you like avocados? mark: coming up, yesterday's fed minutes showed officials divided union over a rate hike, but there was a debate about -- we will take a close look at the timeline for a rate rise, right after the break. ♪ mark: welcome back. that minutes show division in the ranks over a rate rise. let's break it down. there is a count that wants to go in june and another that wants to go later. there is a third that wants to go in 2016. which camp willare u.n. and which will prevail? --

it would be interesting to see how perrigo response. matt: will we see other drugmakers respond? has this jolted other drugmakers into a bidding war? >> evra is an interesting one. are they potentially a bid der for mylan? maybe they thought they would become a target themselves. teva is in a strange position right now. there is pressure on it to do a deal. it is not made any indication that it will step in. matt: what are we learning from this whirlwind of deals we have seen? just this week, we have seen over $100 billion in deals. >> we got to one of billion dollars yesterday before lunch. that's $100 billion yesterday before lunch. it has never been a better time to do m&a. the conditions now, everything is pointing in the right direction. variability of debt shareholders rewarding every deal that gets announced on the buy side and sell side. the interesting thing is whether the premiums can continue. they have gone up and up. this deal is a small premium relative to what we've seen. that is very unusual and probably long-term unsustainable. matt: in the short term, a lot of p

. -- perrigo. they have already rejected that offer. the government accountability office said the engines in the f 35 are so unreliable that plans for production may have to be slowed down. the gao says the engines are half as reliable as they were supposed to be. they are made by united technologies pratt and whitney unit. pratt and whitney says the report and correctly assessed engine reliability. if you want to know where the smart money is going, the founder of the world's largest hedge fund firm like china. that sounds like sam druckenmiller. he tells us there is a lot to like about the chinese economy. dolly oh: --dalio: i think they have a lot of potential, so i remain bullish on china. stephanie: bridgewater has a cool $169 billion in assets. he knows what he's talking about. moving on, a race against time in the fall. searching to find survivors in the earthquake that killed more than 3700 people. international relief agencies warned that the next big problem may be disease caused by tainted water. the quake that rocked the ha

julie: the proposal of perrigo rejected by the proposal from mylan.s came to big of a target. so this is sort of 83-way situation if you well, remember that they had made the unsolicited offer to buy mylan and then there was an offer to buy paraerrigo so that is the situation,. alix: thanks so much everyone and joining me right now is james sweeney and lisa upper what's -- lisa abramowicz. what is really coming up is the dollar and james, where do you fit in that camp? james: i think it is a headwind, but it is not a huge head went and i think the problem is that you don't just have a higher interest rates, that is possibly coming down the road with the fed hike, you have labor costs starting to rise a little bit so i think it is getting a little bit darker for corporate earnings but i think the dollar by its self is not a catastrophe. alix: and speaking of the dollar, we want to talk about yahoo! earnings, and we are to go to scarlet fu has more. scarlet? scarlet: if that is a right number, if they have $.15 earnings per share versus the 18 sense per

perrigo is off about 2% and teva up about 1%. >> thank you very much.t, war ships off the coast of yemen that has to do with iran. it slowed down to a crawl. it slowed down to the seven or nine iranian ships. two freighters suspected of carrying weapons to the rebels in yemen in that civil war. as many as five military ships, war ships from the iranian navy and revolutionary guard are chugging along at about five knots hear hour. that's a slow rate. they have slowed down their speed and the u.s. is keeping a close eye as are the saudi arabiians and the egyptian forces in the waters there off the gulf. so far u.s. officials are pretty much convinced that some of the ships are carrying weapons and no intent to intervene until at some point the iranians make a move to enter the territorial waters of yemen and attempt to deliver the weapons and it's not clear that that is the intend in the end of the iranians. it's up in the air and they are waiting for the iranians to take the next step. brian? >> jim, thank you very much. we are here at the energy confere

perrigo also part of that three-way that maybe transaction that could end up happening.iotech stocks certainly one of the big contributors to why the ibb and the overall sector and industry group is the worst performing on the s&p 500 today. back over to you. >>> speaking of a big mess corinthian college shutting down virtually overnight. it is leaving 16,000 students scrambling as their school shuts down. this just a week after the u.s. education department fining the company $30 million for misrepresenting job place of employment data. that stock is down 98% over the past year basically no longer a stock. let's brickng in herb greenberg, our friend. for years, you have been critical of many of these, not all, but many of these for-profit colleges. what is your take on corinthian? this is a significant blow to the entire industry. >> in the press release they put out, they talked about how they job place of employmentment rates were equal to that of community colleges. i said that's not good because community colleges cost a fraction of the price and they may go free. b

. >> a proposal from mylan to acquire perrigo. >> the market's risen 4 days out of the last 5 sessionsl irk signal of confidence from corporate america, or a signal that the window's closing on low interest rates. >> that back to the idea of why now is the right time to potential potentially sell financial assets given the low rate environment, it's a great time to do that. those that have a yield, which are many of them are in that portfolio, to your point. but, yeah, it's been active -- not a lot of earnings yet, next week they come in force. >> at 26.5 billion, it is blackstone's biggest acquisition, i'm told out of the s&p capital. >> larger than eeop when they bought from sam zell. it's not insignificant for them. >> can i mention the level that we're at on the s&p? for eight days we traded below 2090 and couldn't break through it. yesterday on the ge rumor we got a pop, we've traded significantly above 2090. that's a major breakout to the point that sara was making about corporate news driving us higher. so that's quite a bullish signal to have been able to trade or open above th

to that negative feeling is that what i call the unrequited love dance between mylan and teva and perrigo, rejecting the bid. the market cap is about $35 billion. that bid undervalues the company. we've also got some big heights recording later this week in terms of earnings. gill yan, one of them on the 30th people worried about the momentum slowing down there with regard to its hepatitis c drugs because there's more competition, there's more pricing pressure. bucking the trend are some of the usual suspects, we talked about tesla, also monster beverage, it doesn't report until may -- >> i think often whenever you have a disappointing on the mna front, the mylan looking like it's rejecting the bid. disappointed investors are taking chips off the table. >> all right. that story's not over yet though. mylan. >> if that's the basis, the fact that we're not having this megadeal perhaps potentially at least as of today is enough to send the entire group lower i mean what does that tell you about how much speculation there is for further combinations across the sector versus fundamental growth

and they're missing great opportunities whether it be with apple or perrigo, accessible ideas. >> watching >> this weekend's when i kick it. i always watch it. we put it on. look it's in the background until the last day, boy, yeah anyone who doesn't watch it? honestly. >> looking at me jim. i'm going to watch. >> i'm going to watch. >> everybody watches. >> jim, see you later. >> coming up how j. lo inspired google images that you search for. but won't admit it. we'll be right back. 73% of americans try... ...to cook healthy meals. yet up to 90% fall short in getting key nutrients from food alone. let's do more... ...add one a day 50+. complete with key nutrients we may need. plus it supports physical energy with b vitamins. one a day 50+ >>> welcome back to "squawk box." today's watch list wholesale trade numbers, 10:00 a.m. eastern time. analysts believe inventories will continue to look heavy in february but slightly lower than in january. ruby tuesday's out with results after the closing bell. analysts believe rising commodity costs and competition in the casual dining sector to weigh