(BFW) France’s Iliad Said to Prepare Offer for Bigger T-Mobile Stake

France’s Iliad Said to Prepare Offer for Bigger T-Mobile Stake
2014-10-02 17:16:12.133 GMT


By Libby Sallaberry McGowan
Oct. 2 (Bloomberg) -- Iliad planning to bid for bigger
stake in T-Mobile than it sought in July, as Iliad approaches
self-imposed deadline to reach a deal this month, people
familiar w/ matter tell Bloomberg’s Manuel Baigorri, Alex
Sherman and Matthew Campbell.
* Iliad, which initially proposed to buy 56.6% of TMUS, still
intends to offer $33/shr for a significantly larger stake
* New offer may be made by mid-Oct.
* Deutsche Telekom, which owns >66% of TMUS is in regular,
informal contact w/ Iliad, hasn’t decided whether a new
offer for larger stake would be sufficient
* Execs at Deutsche Telekom view at least $35/shr as
fairer price
* Execs at Deutsche Telekom view at least $35/shr as
fairer price</li></ul>
* NOTE: Sept. 1, Iliad Said in Talks W/ Buyout Firms on New T-
Mobile US Bid
* July 31, T-Mobile Confirms It Has Received Proposal From
Iliad; Aug. 5, T-Mobile Said to Plan to Turn Down
Iliad’s $15 Billion Offer
* July 31, T-Mobile Confirms It Has Received Proposal From
Iliad; Aug. 5, T-Mobile Said to Plan to Turn Down
Iliad’s $15 Billion Offer</li></ul>

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To contact the reporter on this story:
Libby Sallaberry McGowan in New York at +1-212-617-8044 or
lsallaberry@bloomberg.net
To contact the editors responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net
Jeremy R. Cooke

>>> ECB announces operational details of asset-backed securities and covered bon


2 October 2014 - ECB announces operational details of asset-backed securities and covered bond purchase programmes
  • Programmes will last at least two years
  • Will enhance transmission of monetary policy, support provision of credit to the euro area economy and, as a result, provide further monetary policy accommodation
  • Eurosystem collateral framework is guiding principle for eligibility of assets for purchase
  • Asset purchases to start in fourth quarter 2014, starting with covered bonds in second-half of October
The Governing Council of the European Central Bank (ECB) today agreed key details regarding the operation of its new programmes to buy simple and transparent asset-backed securities (ABSs) and a broad portfolio of euro-denominated covered bonds. Together with the targeted longer-term refinancing operations, the purchase programmes will further enhance the transmission of monetary policy. They will facilitate credit provision to the euro area economy, generate positive spill-overs to other markets and, as a result, ease the ECB’s monetary policy stance. These measures will have a sizeable impact on the Eurosystem’s balance sheet and will contribute to a return of inflation rates to levels closer to 2%.
The Eurosystem’s collateral framework – the rules that lay out which assets are acceptable as collateral for monetary policy credit operations – will be the guiding principle for deciding the eligibility of assets to be bought under the ABS purchase programme (ABSPP) and covered bond purchase programme (CBPP3). There will be some adjustments to take into account the difference between accepting assets as collateral and buying assets outright. To ensure that the programmes can include the whole euro area, ABSs and covered bonds from Greece and Cyprus that are currently not eligible as collateral for monetary policy operations will be subject to specific rules with risk-mitigating measures.
The two programmes will last for at least two years and are likely to have a stimulating effect on issuance. Asset purchases will commence in the fourth quarter of 2014, starting with covered bonds in the second half of October. The ABSPP will start after external service providers have been selected, following an ongoing procurement process.
Further technical details on the ABSPP are provided in Annex 1 of this press release and on CBPP3 in Annex 2.

(RBC) Gilead Sciences: could grow through deals - ARWR, TKMR, ISI, ALNY...

Gilead Sciences: GILD should be taking a very strong look at Hep B

RBC thinks GILD should be taking a strong look at Hep B and these assets aren't expensive and they could be consolidating or buying assets. Firm highlights some public plays, noting they're mostly RNAi plays knocking down S-antigen. But they think public companies such as ARWR still remain attractive -- Phase II data will be most important to the firm in 2015-16. They note TKMR will go into Phase I in 2015, ISIS is in Phase I with an S-antigen antisense drug and could have data soon (haven't heard any update, partnered with GSK). They note ALNY will be in Phase I in 2016.

>>> Ariad Pharm set to open more than 10% higher on FDA Breakthrough Therapy des

Ariad Pharm announces AP26113 has received Breakthrough Therapy designation by the FDA for the treatment of patients with anaplastic lymphoma kinase positive metastatic non-small cell lung cancer who are resistant to crizotinib

Co announced that its investigational cancer medicine, AP26113, has received Breakthrough Therapy designation by the FDA for the treatment of patients with anaplastic lymphoma kinase positive metastatic non-small cell lung cancerwho are resistant to crizotinib.
  • This designation is based on results from the ongoing Phase 1/2 trial that show sustained anti-tumor activity of AP26113 in patients with ALK+ NSCLC, including patients with active brain metastases.

>>>US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: CREE -12.9%, AGU -5.5%, STZ -2.9%

Other news: WILN -13.1% (commenced litigation against several companies), TWI -8.7% (light volume, may be attributed to AGU outlook), NLNK -5.7% (announced appointment of Jack Henneman as Chief Financial Officer following departure of Gordon H. Link, Jr.), DNDN -5.2% (still checking), PTLA -3.6% (Portola Pharma files for 10 mln share common stock shelf offering; commenced an underwritten public offering of shares of its common stock and expects to raise gross proceeds of approximately $160,000,000), GPRO -2.5% (cont pre-mkt vol activity), RDUS -1.7% (announces proposed public offering), RVNC -1.5% (announced expected delay in results from Phase 3 study of RT001 for the treatment of lateral canthal (crow's feet) lines), MRD -1.5% (filed for ~27.8 mln share common stock offering by selling shareholders), POT -1% (following AGU earnings)

Analyst comments: DNDN -5.2% (target cut to $1 from $2 at Citi), ENPH -2.4% (downgraded to Neutral from Buy at BofA/Merrill), JPM -1% (downgraded to Neutral from Buy at UBS), MSI -0.7% (downgraded to Neutral from Buy at Citigroup), X -0.5% (downgraded to Hold from Buy at KeyBanc Capital Mkts), ETN -0.5% (downgraded to Perform from Outperform at Oppenheimer)