(DBK) Shire-Takeda confirms it is looking but has not approached


 

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>>> Warren Buffett Isn’t Planning to Acquire Zurich Insurance - Source

 TR: Warren Buffett Isn’t Planning to Acquire Zurich Insurance - Source

Warren Buffett Isn’t Planning to Acquire Zurich Insurance - Source

 

 

 

Warren Buffett Isn’t Planning to Acquire Zurich Insurance - Source

Rumors that Warren Buffett’s Berkshire Hathaway (NYSE: BRK-A) will acquire Zurich Insurance aren’t true, according to a person claiming to have knowledge of the matter. In fact, no deal is in the works for a takeover of Zurich Insurance, which has an enterprise value of $55 billion.

Speculation about a takeover of Zurich Insurance first surfaced on Financial Times ‘Stocks to Watch’, and the rumor was later discussed in Financial Time’s Alphaville.

“Zurich Insurance extended gains having been pushed sharply late on Monday by talk that a significant deal was in the works, with traders speculating about potential suitors,” reported FT Stocks to Watch.

FT Alphaville added, “What we can say is that, if there's a bid involved here, it'd be huge .... As in, second or third biggest M&A transaction ever. …if there's a bid involved here, the number of interested parties is pretty limited. Allianz? Or something Buffett related? Or something Chinese? Dunno. Anyway, all we can say right now is that a lot of savvy people are taking an unusual interest in Zurich Insurance.”

Interestingly, Zurich UK announced today an agreement to acquire Oak Underwriting plc from RSA Insurance. As part of the transaction around 80 employees are expected to transfer to Zurich.

The news is notable, but very far from the second biggest M&A transaction ever.

Zurich Insurance said it does not comment on speculation in response to an inquiry.

>>> Trump hates Amazon, not Facebook

Trump hates Amazon, not Facebook


Capitol Hill wants Facebook’s blood, but President Trump isn’t interested. Instead, the tech behemoth Trump wants to go after is Amazon, according to five sources who’ve discussed it with him. “He’s obsessed with Amazon,” a source said. “Obsessed.”
What we're hearing: Trump has talked about changing Amazon’s tax treatment because he’s worried about mom-and-pop retailers being put out of business.

  • A source who’s spoken to POTUS: “He’s wondered aloud if there may be any way to go after Amazon with antitrust or competition law."
  • Trump’s deep-seated antipathy toward Amazon surfaces when discussing tax policy and antitrust cases. The president would love to clip CEO Jeff Bezos’ wings. But he doesn’t have a plan to make that happen.
Behind the president's thinking: Trump's wealthy friends tell him Amazon is destroying their businesses. His real estate buddies tell him — and he agrees — that Amazon is killing shopping malls and brick-and-mortar retailers.
  • Trump tells people Amazon has gotten a free ride from taxpayers and cushy treatment from the U.S. Postal Service.
  • “The whole post office thing, that's very much a perception he has,” another source said. “It's been explained to him in multiple meetings that his perception is inaccurate and that the post office actually makes a ton of money from Amazon."
  • Axios' Ina Fried notes: The Postal Service actually added delivery on Sunday in some cities because Amazon made it worthwhile.
  • Trump also pays close attention to the Amazon founder's ownership of The Washington Post, which the president views as Bezos’ political weapon.
Trump never talks about Mark Zuckerberg or Facebook: He isn’t tuned in to the debate over how they handle people’s data, and thinks the Russia story is a hoax, sources say.
  • Axios' Kim Hart points out: "Trump told Axios last year he doesn’t mind Facebook because it helps him reach his audience. He's an old-school businessman who sees the world in terms of tangible assets: real estate, physical mail delivery, Main Street, grocery stores. It reminds me of the story Jim wrote a while back about Trump’s fixation with 1950s life. Amazon takes direct aim at some of the core components of mid-century business.”
One warning sign for Facebook: Vice President Mike Pence is concerned about Facebook and Google, according to a source with direct knowledge.
  • Though Pence isn't yet pushing internally for any specific regulations, he argues these companies are dangerously powerful.
  • The source said the V.P. worries about their influence on media coverage, as well as their control of the advertising industry and users’ personal info.
  • When private discussions have turned to the idea of busting Facebook and Google, Pence has listened with keen interest and is open to the suggestion that these two companies need shaking up.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • TEUM -9.1%, SCVL -8.3%, SONC -4.7%, SPLK -0.8%

Other news:

  • EDGE -85.8% (announces that the Phase 3 NEWTON 2 study of EG-1962 in aneurysmal subarachnoid hemorrhage is unlikely to achieve its primary efficacy endpoint)
  • APRI -35.8% (commenced a public offering of shares of common stock and warrants to purchase shares of common stock)
  • NSPR -27.9% (priced offering of ~2.856 mln of its common stock at $1.75/share)
  • NVTA -14.6% (priced public offering of 11.11 mln shares of its common stock at a price to the public of $4.50/share)
  • MGNX -8.3% (prices 4.5 mln common stock offering at $21.25/share)
  • GERN -7% (continued weakness after yesterday's 14% decline)
  • ATOS -5.1% (files mixed securities shelf offering)
  • GCAP -3.9% (responds to European Securities and Markets Authority statement; does not expect the new regulations to have a material adverse effect on its overall financial results)
  • PTCT -2.7% (commences a public offering of 4,000,000 shares of its common stock)
  • D -2% (prices offering of 20 mln shares of its common stock at a price per share of $67.85 in connection with the forward sale agreements )
  • TSLA -1.7% (Moody's downgrades Tesla's corporate family rating to B3, senior notes to Caa1; Outlook is negative)
  • GIS -0.9% (priced 22,727,273 share common stock offering at $44/share)
  • INPX -0.8% (files for $200 mln mixed securities shelf offering )

Analyst comments:

  • SYF -1.1% (initiated with a Sell at UBS )

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:

  • LULU +6.7%, BB +4.8%, QIWI +4.7%, WBA +3.1%

M&A news:

  • RSPP +19.1% (Concho Resources (CXO) will acquire RSPP in an all-stock transaction valued at approximately $9.5 billion, inclusive of RSP's net debt; representing consideration to each RSP shareholder of $50.24/share)
  • SHPG +17.9% (Takeda (TKPYY) says it is considering making an approach to Shire regarding a possible offer for the company)

Other news:

  • ANW +21.3% (announces expiration of share purchase agreement)
  • DXCM +4.3% (FDA has granted a De Novo request for the Dexcom G6 CGM System, the newest generation of CGM for people with diabetes ages 2 and up)
  • ASMB +2.6% (announces acceptance of ABI-H0731 Phase 1b interim data as a late-breaker poster at The International Liver Congress)
  • FB +1.8% (details initiative to 'put people more in control of their privacy')
  • LAND +1.1% (prices 1.1 mln shares of common stock at a price to the public of $12.15 per share)

Analyst comments:

  • CGG +5.8% (upgraded to Buy from Sell at Goldman)
  • TNDM +5.1% (upgraded to Outperform from Market Perform at Cowen)
  • UN +2.8% (upgraded to Buy from Neutral at UBS)
  • ELVT +1% (initiated with a Buy at UBS)
  • VZ +1% (upgraded to Buy from Hold at HSBC Securities)
  • T +0.6% (upgraded to Buy from Hold at HSBC Securities)

>>> Early Pre-Market Gappers

Gapping up:

  • ANW +21.3%, SHPG +18.4%, RSPP +17.5%, BB +6.9%, LULU +6.4%, CGG +5.8%, QIWI +4.5%, DXCM +4.4%, WBA +3.9%, ASMB +2.6%, FB +1.4%, LAND +1.1%

Gapping down:

  • APRI -40%, NSPR -30%, NVTA -10.4%, TEUM -9.1%, SCVL -8.3%, GERN -7.8%, ATOS -6%, INPX -5.6%, SONC -4.7%, GCAP -3.9%, PTCT -2.7%, D -2.3%, TSLA -1.2%, SPLK -1.2%