importantly valeant's stock is up. we'll be keeping a close eye in the weeks ahead as people take a closer week. how it got to a $40 billion plus market value. it has to keep doing deals in order to have those numbers keep coming through. with allergan stock price soaring. it's hard to imagine and say no we're not going to do a deal at this point. one of the last transactions valeant tried to do was with seferlon. hard to sketch out who those potential white knights might be. back to the overall headline. we have not seen this in the past. activism has become an important force in our markets. this is yet another milestone as we watch mr. ackman build a large position as part of a group with valeant and valeant will follow through with this through allergan. >> thank you on this potential deal. dan, do we see any sniff of activity that this could be announced? >> it's not a huge trader, allergan in general. but there was 3,500 of the may calls that were bought and some of the 2,500. this stock is up massively. look at

it's a good choice for valeant shareholders, valeant's stock is up a lot today. should do shouldn't just say yes, study it as a possibility. >> they've been saying no to valeant for some time and it was valeant that i mean -- ackman was interested in valeant as an investment and he will be a significant holder here if in fact this all goes through. it was valeant that was unsuccessful in getting allergan to engage. is this a game changer? there's a number of people here, you can hear them a lot of the conversation is about this partnership. really the first we've seen of this type certainly in a long time, if ever. does it change the nature of the relationship between corporate america and activists and the future of perhaps hostile bids? >> i hope so. what i mean by that, i don't know if you'll see a lot of other things that look like this. i think they were a rare set of circumstances that created this opportunity. what is the bigger picture? the bigger picture is, bill ackman partnering with a company valeant to help them have an opportunity that they could no

ceo of valeant. he never ran a company before, but he was the most respected person in health care running the health care practice. he's embarked on an acquisition strategy that's not going to end. the question has to be at some point, as the acquisitions have to get bigger and bigger, can it continue? there's another interesting story which is endo pharmaceuticals, which has a ceo that used to work for pierce at mckinzie and then worked for pierce at valeant, and doing the same thing at endo. so it's financial engineering in a constructive way to make acquisitions, cut out the inefficiencies and move on. >> good points. stephen weiss just said synergies, rationalization, financial engineering -- [ buzzer sounds ] -- that's it. >> here, you know, we're very, very outsbopoken. >> then speak english. don't use words -- >> sorry to confuse you. >> let's talk about financial engineering. in the last couple of years, the s&p has really appreciated with a lot of financial engineering. dividends and buybac

that's different from what valeant did, correct? >> that's right. >> when you look at the complexity, there's one move in tax law that's referred to lovingingly as the double irish. another one is called the dutch sandwich. there's a lot of moves that company cuss do that get a lot of criticism on capitol hill, but are legal within the tax system. it's just that they have to really go through convoluted twists and turns to make them happen. but they save money. >> but there's a lot of headline risk potentially. thanks, eamon. ty, up to you. >>> big picture on biotech. some of the biggest players driving performance in that industry, the ibbetf, and we have the drilldown on this popular fund. >> it's very, very big in terms of the numbers of stocks that make up the etf, but the top five holdings is about half of the exposure. so it bays to look into it. this is a stock that's up about 3.5% year to date, but it's gone through some crazy ups and downs. the top five stocks, if you look rat what's happening with this particular etf, amge

you're looking for a place for your life to happen. >>> valeant >>> valeant pharmaceuticals and billman offering to buy allergan with a $47 billion bid. we sat down for an exclusive interview with one of valeant's shareholders. david. >> thanks. it's about 24 hours since we heard the very big news and that has played out today with allergan shares up 14% and valeant adding another 7%. that's a good day. which has been one of valeant's largest shareholders for eight years. in fact, they were there before mike pearson took over as ceo helping to formulate some of the strategy that has been followed by valeant as it has pursued aggressive acquisitions using a very low tax rate and strategy of taking r and d out of many of the companies it acquires. i ask what it is about the strategy that he likes and why it is, in fact, that his man, his partner, mason, is going to be stepping off the board of valeant a position they have had for quite some time. here's what he said. >> there is an element where we have kind of originated with mike the strategy of rolling up to use your words consolida

more drug related news this morning, william ackman teaming up with valeant to make a run at -- >> valeant or allergan? the botox? >> don't they make contact lens stuff? >> that's the product they are most known for. >> i wear contact lenses. >> i'm sorry. >> i'm old! >> i'm sorry. this awkward moment was brought to you by -- >> no, that's what i was getting at. obviously, allergan shares jumping on the news, valeant said it expected to offer a mix of stock and $15 in cash for the botox maker which makes contact lens stuff. barclays and rbc are lined up to finance a cash portion. sources told cnbc that the total value would be slightly more than 45 billion. there's a step that got out of here. ackman looks at a company, says, you know, i'd like to get this thing sold and then he even identifies a buyer. this is a new and novel. he's already controversial. and pershing square has about $4 billion worth of allergan. it's the biggest investment ever, a 9.7% stake. >> i didn't know if all those shares were just shares of pershing square. this is a combination of pershing and valeant. >> they m

as is valeant's let's not forget this is a vote of confidence in valeant.erage investor pull off something like this? would they have the strategic background? no way. that's a fairness question, but legally as well as a shareholders in either company, you can see -- >> it's a lesson question as well, right? when you have dry powder and capital, you get more opportunities. we see it over and over again. i would have loved the deal that goldman sachs gave to warren buffett during the crisis, but guess what? i don't have the money. warren buffett has the money. if you have the money, things will be brought to you that are very interesting that other people don't get. good investors are rewarded for that. they should not be punished for that. >> it's probably worth noting that pershing square has taking a beating because of the herbalife position, but nonetheless they're performing well. in the hedge fund community, people are jealous because -- >> absolutely they're jealous. >> jealous? >> and have that leg up in order to participate in the takeover and incre

valeant is a very, very seasoned buyer. this would be the biggest deal they've done. >> that's for sure. a serial acquirer. >> yeah, you know, they're very disciplined in the way they buy things, and i think they would be very unhappy with allergan, considering this. >> yeah, i think the setup here, i think the deal will go through, because again, bill ackman has done his homework before this deal. if you look at them going out and buying shier, as you pointed out, it doesn't make as much sense as the original deal does. if they were to try that, it makes the original deal make that much more sense and push it through that much quicker. hats off to ackman on this one. >> meg, thanks as always. >> thank you. >>> the situation in ukraine is gaining intensity today, and that's sending traders into g d gold. dominic chu is breaking it down at the futures now desk. and, dom, earlier, you know, a couple of hours ago, we saw a big spike in gold, right? >> yeah, we did see. a big spike intraday. we're maybe around the session highs

we teamed up with valeant. valeant came to us and said look, you can help us acquire allergan we would like to work with you. we said great, we formed a partnership and partnership has various terms, gives us the right and the permission from the company to go buy a stake in allergan. >> it is absolutely legal. i said that many number of times yesterday. the benefit that is being given to valeant which could have acted alone but chose not to, he helps legitimize their currency, for example, ackman. he's very good at fighting. we know that. he was able to put up 3 plus billion dollars in ka tall which they're a highly levered company would not have been easy for them to part with. you can make that argument. still doesn't feel quite right to a lot of people who look at it and say yeah, but he's able to buy and he knows the stock is going to go up and eventually he will be selling. he will hold $1.5 billion in valeant, become a significant shareholder in what may be the combination, more on allergan and its abili

but this is not a slamdunk for ackman or valeant at this point.options but this is a watershed moment for activism, like the monitor last night -- this really legitimizes them, they are partnering up to make a hostile bid for another strategic. this is unprecedented. >> you have to find the right partner and valeant is that partner. it is not like teaming up with pmg or exxon, he is a former mckinsey reporter who was taken from goldman sachs. and it a month ago, erik said that with the ceo of valeant, and acquisitions are their style. listen to this. >> we have done our research on development and total and for the last decade or so this has not been positive for the industry. so we make a much better use of our capital -- buying products that are approved by companies that have approved products, and grow that way. >> you know, drew, this is a good opportunity to bring you win. you cover the drug industry. balanced approach to intellectual property is totally different than anyone else in the industry. that is what they are alluding to, that they

when you mention endo, that is known as the son of valeant, because it has former valeant experts. it's more of an acquirer, the way people look at it. >> meg, thanks as always. >>> let's get to dom which you chu for a quick flash. >> taking a hit in today's trade. it's a smaller company. the stock is down 7%, 8% after it warned of a bigger than expected loss due in part to the cold winter. they also said margins were -- heavy discounting, the stock is down around 14% over the last five days or so. so taking it on the chin today, bebe. >>> here's a question, is buying the home the single worst financial decision? i think more people are saying yes. >> plus bob olstein is here. you're going to hear it here first on "street signs". >>> and why the banana trade is simply going bananas. "streets signs" will be right back. >> that joke had a peel. [ male announcer ] the wright brothers started in a garage. mattel started in a garage. disney started in a garage. amazon started in a garage. ♪ the ramones started in a garage. my point? some of the most innovative things in the world come o

here, it's been valeant strategy.g to the $150 billion number. that takes a lot to buy, and allergan can bring that here. >> but at some point, then you have to start looking at valeant's organic growth, and you have to start looking at the real quality of the earnings. that's going to -- >> herb, explain to me ackman in all of this. >> that's what i -- that's -- the minute i thought, i thought, oh, my, what is ackman playing in this? i saw jim cramer was saying, my goodness, allergan is his favorite company in the space. i don't know where ackman is in the space. i haven't heard back from him yet. that will be a great part of the story. >> yeah, maybe he doesn't like frowning either. nobody gets the joke. okay. ladies and gentlemen, thank you. >> we get it, we get it. >> -- herb's on a phone. you can't see him not frowning. >> all right. thank you, lady and gentlemen. we'll talk more about this as we get more details and any kind of confirmation we can on the dow jones story about the potential takeover of allergan.

and unorthodox alliance between black men and valeant. unorthodox alliance between bill ackman and valeant. with bill ackman they have a lot more game. >> bill ackman does not work alone. he is always sourcing these and then he makes them happen. >> he has an iron got like no one else. this is not a slam down, they have got to get this through the sec. look at his training history, herbalife, fannie and freddie, the automakers. unity government intervention. investors, short sellers and activist investors, would not invest that way knowing how unpredictable the government is. this is not a clear path, they could get roadblocked. yearset with ackman ago. we know more about our name that anyone. no, they said we know more. that level of research. >> i have spent an enormous amount of time with bill, whether he is right or wrong he knows his stuff inside and out. people who have said there are antitrust issues, it does not seem that there are. as far as insider trading goes, you would have to share nonpublic information and there would have

there's al her gan and valeant pharma. i'll have more on my dislike of that transaction later, but right now the key is this deal, plus the shuffling of assets you reminded the market of the value hiding, spell if as a matter of fact investors are willing to pay $45 billion for allergan, or even biogen, celgene, and yes gilead with the remarkable earnings, they could be targets, too. oh, and woe to those who bet against gilead, one of my favorite companies from get rich carefully. these stocks had all been totally overwhelmed by new biotech supply flooding the market for a period of seemingly endless ipos that i hope is dying down. today the group came roars back. who have thuvg they were also undervalued. retail has been a real drag, then along comes an upgrade to home depot by wayne hood on top of blowout numbers for harley-davids harley-davidson. the ax is an analyst who has been the best at calling direction of a particular stock. today wayne hood, who i regard in the know the most about home depot, said it's time to b

checking the share of allergan and valeant, basically allergan down about 1 3rer%, valeant up t 1.5%.icahn making news today. he has been at this for years and now he wants to practice to continue well into the future. in an continuer view with cnbc's david faber, icahn says activists per phenomenon an important service and he plans to back the next generation of investors. >> i would like to see more of this done. done by the real good guys. i think it's very hard to break into the business of activism. you have to have staying power. you have to have a fairly good bank roll. >> icahn also talked about butting heads with bill ackman in the past over herbalife and weighed in on ackman's bid for allergan. >> you know, frankly, with all the stuff i've said with ackman, back and forth, back and forth, i think he's dead wrong about herbalife and we have our differences but i never said he's not a smart guy. >> right. >> and i think the concept of this is good. i hope it works out better for him. >> and a program note, bill ackman will be on "squawk box" this morning at 7:30 a.m. eastern t

valeant says it will finalize and announce its proposal soon. the board will evaluate any offer but advises shareholders not to do anything right now. you can see valeant and shares of allergan higher in today's trade. >>> astrazeneca, their shares are soaring in london on reports of an informal takeover offer from american rival pfizer. cnbc understands that pfizer is mulling an offer which values astrazeneca at more than $100 billion. a huge deal. a separate report says that astra has hired morgan stanley and goldman sachs to advise on the potential takeover bid. then you also have the swiss pharmaceutical company novartis unveiling big changes to its portfolio because it's going to be acquiring the oncology division of glaxo smithkline for $14.5 billion. but it's also selling glaxo smithkline its vaccine unit for $5.25 billion. in a different deal, novartis is selling its animal health division to eli lilly for $5.4 billion. got that? there's a lot going on. cnbc's katherine boyle joins with us more. i wasn't kidding when i said about the dia

valeant basically came to us and said, look, if you can help us acquire allergan, we'd like to work with said, great. we formed a partnership. and the partnership has various terms, gives us the right and the permission from the company to go buy a stake in allergan. >> all right. our eamon jabbers is live in d.c. with his take. perfectly legal, correct? >> yeah, yeah, that's right, scott. this one blows a lot of people's minds, because this is a classic case of insider trading that is not against the rules here. ackman did have some insider information. he knew that the acquisition effort was going to happen. but what he's arguing here is that he didn't get the information from anybody who breached a fiduciary duty by giving it to him, and he didn't have the information from inside the company being targeted. he had it from a third paerty, o therefore, doesn't break the rules. he said he has an iron-plated lawyer who reviewed it, and rob kissane did some of the lawyer work on this and pronounced it a good deal. so this one is fascinating. it blows a lot of people's minds. he's probably

>> i have deep respect for valeant. i sold bausch & lomb to valeant.phthalmology and aesthetics is like buying park place and boardwalk on the monopoly board. they're the best. >> could you ever see yourself teaming up with carl to go after another company and effectively allow carl to trade ahead of that? >> i admit that's probably a loophole that may get closed. >> you say may get closed. should it get closed? >> i think it should get closed. it seems a bit on the front running. carl has been a wonderful constructive part of forest over the last couple of years. he's a long-term holder. i could see working with carl again. it's been a very constructive relationship. >> he is pals with ackman. >> that's right. >> he said he thought this was a good way of going after it. >> i think there's ways to work together. >> >> he may be calling you to try to do this. >> i'm not sure this front running situation. >> you called it front running. that's okay. >> but that kind of front running thing seems unusual to me. >> are you staying here? moving to dublin? >>

try to sew questions about valeant's valuation, valeant's strategy, valeant stock price.o this battle. raising questions. well are they really finding a new way to do things? is it really about the acumen of mike pearson and his great background that has enabled him to figure out which parts of r and d are productive and which aren't or an advantage tax rate out of bermuda and a lot of sin gernis but also -- synergies but the need to constantly keep rolling up companies. is he a true new genius of this time or is he more akin to -- >> charlie -- >> wall street construction like bernie ebbers. >> oh, no. don't ever use that term. i saw once an interview with bernie ebbers at a gym right before -- it was your interview. >> on the streets of brook haven. >> that's right. >> no way, shape, or form do i mean to equate anything like worldcom and valeant in the sense of anything having to it with accounting but the question of having to do the next deal and the smartest guys in the room to use a different -- >> yes. >> reference. >> maybe rjr. >> all of this talk about tax inver

for valeant, the c.e.o.ants it to be one of the top five pharmaceutical companies in the world equivalent to pfizer or sanofi. if it fails, i think investors will be asking questions about the risk of that strategy. >> we'll leave it there. >> as we head to break, let's get to today's "the pulse" number. 450. how many years to the date that william shakespeare was born. >> the first celebration of the birthday was in 1769. i magistrateford on avon has a pennsylvania today. >> festival today. just a reminder. you can follow us both on twitter. i'm at guy johnson tv. francine is at flak wa. we're -- flaqua. ♪ . advocate intervention where it is necessary, but let me go on record, you don't need to do iraq and afghanistan, but in syria when we were calling for no-fly zone, that would have been difficult, but limited intervention. in respect of egypt, the intervention which gets support financially and help to the new government. >> tony blair spoke to us exclusively in the last hour. he is saying the west needs

he said, he didn't see anything illegal about bill ackman's pershing deal with valeant.n the air together? >> greenberg on the street called a hail mary pass to get rid of the dividend and buy back the stock. i see ackman say you know what, i don't hate herbalife as much as i thought i know the hatchets will stay buried. this could be a cold war hiatus. >> not unproductive for both of them to be at each other so much. carl last week was the one that started it by referencing marty lipton originally and saying well, the enemy of my enemy is my friend. >> there's glasses nose between parastrike ka between the two. >> real quick on sprint, jim, which i know you're "mad money" viewers follow closely. the stock is up a bit, average revenue per user coming down. the ebitda number was okay. dealing with an accounting change and they've lengthened the time in terms of the service plans and the equipment and so that has had a beneficial effect for verizon or at&t or sprint. >> this is the first one that's gone up in this class. everyone has been worried t-mobile will come in and

he's making waves as he teams up with valeant in a bid for allergan. we'll talk about this more coming up, including comments from carl icahn. he was on the opposite side on herbalife. there's a lot of enimity. >> at one point he said i have nothing at bill ackman. he made me $400 million. i like him. >> there's been a lot of bad blood there. >> he was saying in a way he took advantage of him. >>> dow chemical, procter & gamble, boeing, apple and facebook all being released today. a lot coming up. at 7:30 eastern time, the dow chemical ceo will be joining us and we'll be hearing from at&t ceo john stevens. the company says it had a higher than expect ed amount of customers switching to a new plan. if you take a look at what's been happening with at&t shares, you'll see at least it was down by 2% after hours, i think. 35.50 was the last trade. >> yum brands getting a boost from stronger sales. where it's most important, china, the parent of kfc, taco bell and pizza hut says that first quarter sales in china rose 9%. customer in china are buying more chi

insider trading of botox-maker allergan on monday ackman's pershing square capital management and valeant (val-ee-ant) pharmaceuticals sealed a deal to buy allergan for $46 billion dollars. the stock surged 15 percent after the announcement.ackman said in an interview with c-n-b-c that he did not violate securities law in his deal to buy allergan.he says legally, he is allowed to trade on inside information as long as the source did not breach confidentiality rules. tomorrow marks a new day for nokia, when microsoft's acquisition of the company's device and services business becomes official. the popularity of apple and samsung devices has delivered a blow to nokia's bottom line.however, analysts expect teaming with microsoft represents a fresh start. meantime... i-b-m attempts to take the lead in the chip market. it has released it's new chip technology called power eight. ibm partnered with google for the innovation. it says the chips are speedy, and able to handle more data. watch out netflix, amazon is comming on strong. starting in may -- if you subscribe to amazon prime you'll be ab

activist investor bill ackman has partnered with valeant pharmaceuticals, a canadian company to make a bid for botox maker allergan. the deal values that company at 45 billion dollars or 153 dollars a share. stocks soared on details of the bid, with allergan up 21 dollars, and valent shooting up 9.why has the deal has captivated investors? here's damien conover of morningstar. "i think it highlights one of the key themes that we are seeing the pharmaceutical space which is...there is a bit of a lack of innovation in bringing out new products to the market. that combined with more aggressive price negotions by peer groups have really forced pharmaceutical groups to look at ways to maximize value with the assets that they have." conover adds that when activists such as bill ackman get involved in companies... investors start to see more potential. chuck coppola takes it from here with another big pharma deal. chuck coppola takes it from here with another big pharma deal. bill... big pharma works together, separately. stocks moved yesterday on what's being called a major 3-part transact

>> i think based on those facts, it would be hard to say that the front brand valeant's offer.here is ackman has never learned the meaning of deferred gratification. he's a short-termer. one of the issues is this bid, at least his part of it, really serious. or is he just trying to profit from a quick up flow in the price of allergan stock. >> i think four to six years is their average. look at jcpenney. he rode that almost all the way to the bottom. and in better cases, he rode general growth properties all the way to the top. so he has been a longer term holder in a lot of cases. herbalife, he started amassing that about two years ago on a short basis. he expects it to go to zero, but i wouldn't say of him that he's a short-term guy. i know hedge funds tend to be. he has a shorter list of holdings and i think he's committed to them on a longer term basis. >> i think in both the case of jcpenney where he lost a fortune, and in the case of herbalife, he held on because he didn't get the short-term bump in stock prices that he was looking for. that's a place for the marketplace

ackman is making a push with valeant pharmaceuticals to purchase allergen. ♪ >> thousands of people gatherekend in denver, center park.vic they were celebrating the legalization of marijuana in the state park. the first legal outlets opened this year. envape'sop[ chief revenue officer, todd mitchell. tell me about the company. >> we are about 125 employees in colorado. we license in multiple states around the country. we are in california, washington, soon to be oregon, soon-to-be innd others. we grew last year about 12%. >> in terms of sales? >> yes, and growth of market capture. >> tell us about the product. what are you selling? --it is a vaporizing been pen company. we have a battery attached to a cartridge that is filled with cannabis oil. you're able to vaporize that at a certain temperature. the battery heats the cartridge and the cartridge produces vapor. >> and this has been approved for medical use of marijuana? where they only have medicinal law, then that is where we sell that medicinally only. in colorado and washington they are now available also recreationally. washington sh

ackman is making a push with valeant pharmaceuticals to purchase allergen. ♪ >> thousands of people gatherekend in denver, colorado's civic center park. they were celebrating the legalization of marijuana in the state. the first legal outlets opened this year. joining me now is openvape's chief revenue officer, todd mitchell. tell me about the company. let us start off with the scale of the company. how big is it, what are its products, and what has happened in the last 12 months? >> we are about 125 employees in colorado. we license in multiple states around the country. we are in california, washington, soon to be oregon, and colorado and soon-to-be in others. we grew last year about 12%. -- 1200%. >> in terms of sales? >> yes, and growth of market capture. a pretty fascinating 12 months. >> tell us about the product. what are you selling? >> it is a vaporizing pen company. we have a battery attached to a cartridge that is filled with purified cannabis oil. you're able to vaporize that at a certain temperature. the battery heats the cartridge and the cartridge produces vapor. >> and this

a strategy type of deal like glaxo and a synergy type deal like valeant and aller gin. i think bristol meyers is the biggest of my three picks. it's an $80 billion company and more of a cost savings deal. bristol meyers operating margins are half of what we see others in the industry make. i think a company could come in and drive earnings growth through synergy opportunities. >> let's talk about milan. metta has rejected it. you see this company as a target. >> milan is a bit more swallowable than bristol. about a $19 billion market cap and it is looking to buy. by milan has had a lot of experience with activist investors in its history, icahn, paulson right now. and milan could offer diversification strategy from a global company that wants to come into the generics market. i know milan said they want to buy, but i think they also put themselves into play. >> insight, not too familiar with this one, this is the smallest of the three, the easiest acquisition. >> this was a growth story, melissa. insight has a cancer, blood cancer product on the market. but in it's pipe

allergan reportedly holding early talks with johnson & johnson, looking for a higher bidder than valeantoing something with shire. obviously, they think the bid is too low. one of the defense mechanisms would be to go after somebody else. allergan is hot. you do not want to be short this name. >> goodyear is falling after missing on both the top and bottom lines, murph. >> yeah, falling hard, and another company that came out and blamed the weather for part of this loss that they posted, it's down 7% today. i like this name. i want to see the stock in the low 20s before i get back in. >> you're okay now? >> it's either a senior moment or the hits playing hockey. >> great arguments yesterday. simon did. >> bear. >> bear. >> so you got it right? >> i got it right. >> good job. at least one of us knows. >>> with interest rates at historic lows, is real estate becoming a more or less attractive place to invest money? few people have as much skin in the real estate, than the ceo of thor equities. joe, welcome. good to have you on the show. >> thank you. >> what's the state of commercial real

>> mergers and acquisitions, ge and drug companies and valeant. i hope it was worth it.me you think about vacation, you think about -- >> let him enjoy his vacation while he's there. >> you'll think about the rest of us and viewers that could use your -- you start a deal book for god's sake. >> let him enjoy his vacation. >> no. i want to make him feel bad. >>> time warner cable earned 1.78 per share for the first quarter, 10 cents above estimates. that was roughly -- revenue roughly in line. the company also added 148,000 more residential customers last quarter. that's the most in more than seven years and, yes, you're right. this is the company that's in the process of being acquired by our parent company, comcast pending regulatory approval. that's happening right now. elsewhere, insurer aetna earned $1.98 a share for the first quarter, well above estimates of $1.55. the company raised its forecast for the year after record quarterly earnings, revenue and medical plan membership levels. that's our friend, too, isn't it? the big thinker. >> mark bertelini. >> he says w

good for valeant and pershing square, who saved some money and improved their chances with clever structuring a hostile takeover. say -- am ieo and next? what am i changing my business? business is tough enough to be worried about who is going to attack you from a financial side. we say we do not run our business for every quarter, but we do. >> this is important. or owns your shares, are they complaining about what carl icahn is doing? >> they are along for the ride. >> they are a long-term player. up 30%, they are going yes. >> are they selling 30 days later? i am not sure about that. if they believe in a growth company, there are companies that are in there because it is a growth company or a dividend company. in is a growth company. there is activism and hostile takeovers. that is a big thing to look at. our companies are teaming up with private equity to go out after certain companies. >> how do you feel about a hedge manager going to a company and saying i am going to buy a lot of stock and i want to to buy it? how do you feel about that? companies today -- you have to execute. you have

purging square creating this -- pershing square trying to create this major market between allergan and valeantboth stocks down today. many people are saying besides the fact that bill ackman likes the business model, think about the market they are in, eyelashes, breast implants, botox, these are unregulated markets, markets that can continue to charge off, people are willing to pay for -- >> not covered by medicare -- >> and guess what -- people are not looking for generic or discount implants? they want the good stuff. it is like what do you want me to say. >> coming up right here on "market makers" -- >> who once implants on sale? i don't think they do. he says i don't care. >> yes, i am moving on. we're going to see how her longshot idea gets turned into a viable business. >> also, the idea is a slamdunk. want a lot of success? ask someone who has had a lot of it. shaquille o'neal. this is "market makers," on bloomberg television, streaming on your phone, your tablet, at bloomberg.com, on apple tv and amazon's fire tv. ♪ >> live from bloomberg headquarters in new york, this is "market make

saying that they are looking to explore a sale to ,anta fe or johnson & johnson other companies like valeantrnational for team ups to try to take over that company. allergan contacting companies according to people with knowledge of this matter. they are attempted to fend off a hostile sale. an eye on keeping this development as the mourning continues and in the meantime we will be back on the markets in 30 minutes. >> thank you so much, scarlet fu. the only top 10 trading you need to know about today, olivia sterns joins in. toon, the oil giant landing start drilling in august. partnership has come under the u.s.crutiny after laid sanctions on its ceo. >> number nine, goodyear tired, reporting ernest -- earnings below analyst estimates in north america. results were in-line with expectations and they reaffirmed their targets for 2016. >> siemens and general electric, it could become the biggest tug-of-war for a french national company. they are attempting to counter general electric with access to information according to people familiar with the matter. >> number seven is the largest forei

. >> valeant was up a lot. where are you on that? i read something over the weekend.ng. legal. but it has to be addressed. >> from a policy perspective, the idea that you can buy a company before -- but it's hard -- i don't like it. it doesn't look right to me. >> you saw what his response was. you're allowed to use inside information as long as the person giving it to you isn't doing something with their fiduciary responsibilities. >> right. what happened if cnbc has an agreement with bill ackman and says tomorrow we're going on some news. >> i went back to david and realize he did absolutely nothing wrong at all. >> according to berkshire it was their own internal violation. >> do you think a stock is cheap? i'm buying it. you say i think this is really cheap. they decide to take it over. >> the distinction is if you're an active shareholder or any investor, you don't know he's behind. invariably it is a market moving event. or especially if you're bill ackman and you have a plan. it is a market moving event. the question is how do you deal with that? change the win

great moments this week on "squawk box" including bill ackman on with the guy from valeant. >> a greatal and biotech merger announcements. and the little squawkers. you get a better look if you go on our website. they were here for take your kids to workday. and you can see what i would like like with bill's hair. you saw what i would look like with zach galifianakis's stomach. >> that was you? >> yeah. i was never quite that bad. anyway, check out the squawking talk blog. >> when we come back, turning trash into profits. waste management ceo will be commenting on the company's quarter. as we head to break, look at u.s. equities futures. dow looks like they would open 60 points behind fair value. nasdaq close to 15. there is no substitute for experience. for what reality teaches you... firsthand. in the face of danger, and under the most demanding circumstances. experience builds character. experience builds confidence. and experience... has built this. the 2014 glk. the engineering, and the experience, of mercedes-benz. see your authorized dealer for exceptional offers through mercede