1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,239 Speaker 2: in the stock market, harnessing the power of Bloomberg data. 4 00:00:16,440 --> 00:00:18,599 Speaker 1: Let's take a look at some stocks on the move today. 5 00:00:18,680 --> 00:00:21,720 Speaker 1: I'm Nathan Hager, joined by Bloomberg's Isabelle Lee, trying to 6 00:00:21,800 --> 00:00:23,920 Speaker 1: keep up with all the red headlines that just cross 7 00:00:24,000 --> 00:00:28,040 Speaker 1: the Bloomberg terminal with deal news in the pharma space. 8 00:00:28,080 --> 00:00:33,200 Speaker 1: A couple of headlines getting sparked here. Good morning, Isabelle. 9 00:00:33,240 --> 00:00:36,040 Speaker 3: Good morning Nason. I don't need coffee because my heart 10 00:00:36,080 --> 00:00:39,320 Speaker 3: is something because the headlines just keep coming in. Let's 11 00:00:39,320 --> 00:00:42,519 Speaker 3: first start with Lily. Shares are hired by nearly one percent, 12 00:00:42,680 --> 00:00:46,400 Speaker 3: so Lily is set to buy some intents the pharmaceuticals 13 00:00:46,440 --> 00:00:49,400 Speaker 3: for thirty eight dollars a share in cash plus one 14 00:00:49,440 --> 00:00:53,239 Speaker 3: transferable contingent value that entitles the holder to get up 15 00:00:53,240 --> 00:00:55,760 Speaker 3: an aggregate of nine dollars, which is subject to the 16 00:00:55,800 --> 00:01:00,320 Speaker 3: achievement of certain milestones in this day list three. Total 17 00:01:00,360 --> 00:01:03,480 Speaker 3: potential aggregate per share will be around forty seven dollars 18 00:01:03,520 --> 00:01:06,200 Speaker 3: per share. Of course, it's big news to see the wires, 19 00:01:06,240 --> 00:01:09,600 Speaker 3: and it's up by nearly one percent. This is really 20 00:01:09,600 --> 00:01:11,399 Speaker 3: big news for us this morning. Should I go to 21 00:01:11,440 --> 00:01:12,160 Speaker 3: the second one. 22 00:01:12,000 --> 00:01:13,240 Speaker 2: Because yeah, please do me. 23 00:01:13,760 --> 00:01:16,640 Speaker 3: Yeah, the second one is Biogen. This one's the stock 24 00:01:17,200 --> 00:01:19,800 Speaker 3: is slipped actually by zero point eight percent in pre 25 00:01:19,880 --> 00:01:23,199 Speaker 3: market trade and now it's up again by point twenty percent. 26 00:01:23,240 --> 00:01:25,840 Speaker 3: So you see the stock there, see sawing between gains 27 00:01:25,880 --> 00:01:30,240 Speaker 3: and losses. So Biogen has agreed to acquire a Palace Pharmaceuticals, Inc. 28 00:01:30,440 --> 00:01:34,319 Speaker 3: For five point six billion dollars to expand its treatments 29 00:01:34,360 --> 00:01:38,320 Speaker 3: and immuneology and rare diseases. So Biogen will pay forty 30 00:01:38,360 --> 00:01:41,240 Speaker 3: one dollars a share for a Palace gaining two approved 31 00:01:41,280 --> 00:01:45,720 Speaker 3: drugs which is five fove and empavelli I try my 32 00:01:45,800 --> 00:01:49,160 Speaker 3: best there and new and blood disorders and a rare 33 00:01:49,360 --> 00:01:52,400 Speaker 3: kidney diseases. So we know that this acquisition is part 34 00:01:52,440 --> 00:01:55,080 Speaker 3: of Biogen's efforts to really find new sources of growth 35 00:01:55,160 --> 00:01:58,559 Speaker 3: under their new CEO, and really as the company tries 36 00:01:58,600 --> 00:02:02,840 Speaker 3: to get back it's multiple sclerosis franchise which has in declining. 37 00:02:03,160 --> 00:02:05,560 Speaker 1: So a lot of pharma deal news as we get 38 00:02:05,560 --> 00:02:07,800 Speaker 1: ready to close out the first quarter here while we 39 00:02:07,880 --> 00:02:11,680 Speaker 1: wait for some potential deal news. It could be historic 40 00:02:12,120 --> 00:02:13,760 Speaker 1: for Unilever and McCormick. 41 00:02:14,680 --> 00:02:16,600 Speaker 3: Yes, so I want to pivot to this because this 42 00:02:16,639 --> 00:02:18,920 Speaker 3: is when I think of McCormick, I think a breakfast. 43 00:02:19,200 --> 00:02:21,320 Speaker 3: I guess it's all despices. 44 00:02:20,720 --> 00:02:21,959 Speaker 2: So I think of old day. 45 00:02:22,160 --> 00:02:26,240 Speaker 3: So yeah, yes, timely for us. So indeed, we have 46 00:02:26,320 --> 00:02:30,320 Speaker 3: McCormick shares up by nearly four and a half percent. 47 00:02:30,919 --> 00:02:33,120 Speaker 3: We do have you and Laver in talks to sell 48 00:02:33,160 --> 00:02:35,880 Speaker 3: most of its food business to McCormick, and those talks 49 00:02:35,919 --> 00:02:38,720 Speaker 3: are advanced and a final deal could be announced later 50 00:02:38,800 --> 00:02:42,160 Speaker 3: today Tuesday. This is historic and for both companies this 51 00:02:42,280 --> 00:02:44,840 Speaker 3: deal is the biggest in their histories, and it will 52 00:02:44,880 --> 00:02:48,040 Speaker 3: also help Unilever be recast as a global leader and 53 00:02:48,160 --> 00:02:52,240 Speaker 3: not only beauty and personal but also in home care. Also, 54 00:02:52,280 --> 00:02:57,000 Speaker 3: it will catapult McCormick into a global spice, seasoning and 55 00:02:57,120 --> 00:03:00,480 Speaker 3: condiments giant. So definitely good time for us to think 56 00:03:00,520 --> 00:03:03,840 Speaker 3: about this because it's nearing breakfast. So. Unilever does not 57 00:03:03,960 --> 00:03:07,040 Speaker 3: provide further details on equity components, but said the deal 58 00:03:07,080 --> 00:03:10,040 Speaker 3: will be when it's completed, it will have around sixty 59 00:03:10,040 --> 00:03:14,080 Speaker 3: five percent of the combined company, so definitely some big 60 00:03:14,120 --> 00:03:16,720 Speaker 3: news and Unilever will still have majority control. 61 00:03:17,440 --> 00:03:20,600 Speaker 1: We've also got some big news going back to the 62 00:03:20,639 --> 00:03:23,840 Speaker 1: pharma space, but not so good news, it seems for. 63 00:03:23,880 --> 00:03:29,119 Speaker 3: Pepgen not looking good. The stock plunge around forty six 64 00:03:29,120 --> 00:03:32,520 Speaker 3: percent in pre market trade. The biotech firm release disappointing 65 00:03:32,560 --> 00:03:36,680 Speaker 3: clinical data. So the set data involves I'm being tested 66 00:03:36,720 --> 00:03:42,360 Speaker 3: here myotonic this trophy type one treatment, and analysts have 67 00:03:42,560 --> 00:03:47,000 Speaker 3: mixed mixed sentiments regarding that data. We have Oppenheimer saying 68 00:03:47,040 --> 00:03:50,560 Speaker 3: that the cello might be overdone. That's the only positive, 69 00:03:50,640 --> 00:03:53,640 Speaker 3: but a lot are loop forms. This defaul, for example, 70 00:03:53,680 --> 00:03:56,920 Speaker 3: said it's it's a mixed bat and it's being received 71 00:03:56,960 --> 00:03:58,240 Speaker 3: negatively by investor. 72 00:03:59,320 --> 00:04:03,360 Speaker 2: This stock moves report from Bloomberg Radio. Check back with 73 00:04:03,440 --> 00:04:06,000 Speaker 2: us throughout the day for the latest roundup of companies 74 00:04:06,080 --> 00:04:09,200 Speaker 2: making news on Wall Street and for the latest market 75 00:04:09,200 --> 00:04:13,680 Speaker 2: moving headlines. 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