Then there's power of Paramount Sky Dance and Warner Brothers Discovery. Both are trading lower this morning. Warner Brothers down 2%.Sky Dance also down 2%, with Paramount raising its breakup fee to $5 billion in its bid for the company. That in itself is a sign that it can clear regulatory hurdles. That's also happening with recent reports that Netflix is the lead bidder for the company.Bloomberg intelligence analyst Kevin Year joins us now with the latest. Kevin, let's start with this idea that Netflix i ...

Core Insights - The drug and biotech sector has shown signs of recovery after a muted performance earlier in the year, driven by drug pricing agreements with the Trump administration [1][2] - Despite facing challenges such as pipeline setbacks and regulatory risks, the industry's focus on innovation and M&A activity suggests a favorable long-term outlook [2][7] - Eli Lilly, Johnson & Johnson, and Sanofi are highlighted as strong candidates for investment [3] Industry Overview - The Zacks Large Cap Pharmaceuticals industry includes major global companies developing multi-million-dollar drugs across various therapeutic areas, emphasizing continuous innovation and significant R&D investment [4][5] - The industry is characterized by aggressive M&A activities, with large companies acquiring smaller biotech firms to enhance their pipelines [7][8] Innovation and Pipeline - Innovation is crucial for growth, with companies investing heavily in R&D and integrating new technologies like AI and gene editing to improve drug discovery [5][6] - Key therapeutic areas attracting investment include rare diseases, oncology, obesity, and immunology [6] M&A Activity - The sector has seen a rebound in M&A activity, particularly in fast-growing markets such as oncology and rare diseases, with companies like Pfizer and Roche making significant deals [9][10] Challenges and Headwinds - The industry faces challenges including pipeline setbacks, pricing pressures, and regulatory scrutiny, which can impact share prices [10][11] - Macroeconomic uncertainties and potential tariffs on pharmaceutical imports add to the industry's challenges [11][12] Performance Metrics - The Zacks Large Cap Pharmaceuticals industry currently ranks 185, placing it in the bottom 24% of Zacks industries, indicating a dull outlook compared to the broader market [13][14] - Year-to-date, the industry has risen 15.6%, outperforming the Zacks Medical Sector but underperforming the S&P 500 [15] Valuation - The industry is trading at a forward P/E of 16.91X, lower than the S&P 500's 23.44X, suggesting potential undervaluation [18] Company Highlights - **Eli Lilly**: Strong sales growth driven by diabetes and obesity drugs Mounjaro and Zepbound, with plans for new product launches and pipeline expansion [21][22][24] - **Johnson & Johnson**: Growth in its Innovative Medicine unit despite challenges, with a focus on new drug launches and acquisitions to strengthen its pipeline [27][29][30] - **Sanofi**: Strong demand for its immunology drug Dupixent and a solid vaccine portfolio, although facing challenges from generic competition and pipeline setbacks [34][35]

Investors are questioning the wisdom of a potential merger.Shares of Netflix (NFLX 4.93%) declined nearly 5% on Wednesday, following reports of ongoing acquisition talks between the streaming leader and its rival, Warner Bros Discovery (WBD +0.16%). Market share gains might not materializeNetflix is interested in purchasing Warner Bros Discovery's studio assets and HBO Max streaming service, according to Reuters. A deal would allow Netflix to bundle HBO Max with its own streaming offerings -- at a lower ov ...

Morgan Stanley is seeing a strong deal pipeline next year for mergers, acquisitions and IPOs, its co-head of investment banking, Mo Assomull, said on Wednesday. ...

Core Viewpoint - Genmab A/S has successfully closed an offering of $1.5 billion in senior secured notes and $1.0 billion in senior unsecured notes to fund the acquisition of Merus N.V. and related expenses [1][2]. Group 1: Offering Details - The offering includes $1.5 billion of 6.250% senior secured notes due 2032 and $1.0 billion of 7.250% senior unsecured notes due 2033 [1]. - The net proceeds from the offering will be used alongside new credit facilities totaling $3.5 billion to finance the acquisition of Merus N.V. and associated costs [2]. Group 2: Security and Guarantees - Prior to the acquisition closing, the notes will be secured by segregated accounts holding the gross proceeds [3]. - After the acquisition, the secured notes will be backed by a first priority security interest in certain assets of Genmab and its subsidiaries [3]. Group 3: Covenants and Restrictions - The indentures governing the notes include customary covenants that restrict Genmab and its subsidiaries from incurring additional debt, paying dividends, and engaging in significant asset disposals or mergers [4]. Group 4: Regulatory Compliance - The notes have not been registered under the Securities Act and are offered only to qualified institutional buyers or non-U.S. persons outside the United States [5].

By Sabrina Valle NEW YORK, Dec 3 (Reuters) - The "fertile" conditions driving dealmaking in 2025 will persist through the end of the year and ​into the next as CEOs look for scale and private-equity firms ‌offload aging assets, according to Michal Katz, Mizuho Americas head of investment and corporate banking. This year ‌was dominated by megadeals over $10 billion, which more than doubled year-over-year to $1.3 trillion through Tuesday, according to data compiled by Dealogic. That included an $85 billion ...

Teck and Anglo shareholders are due to vote this month on a mega deal to create a copper-rich mining giant, with the two coveted mines in Chile as a key driver of the merger. https://t.co/3OnOs5fGBl ...

Core Insights - Mercer Global Advisors has acquired Glass Jacobson Wealth Advisors, enhancing its presence in the Baltimore and Washington D.C. region with an additional $1 billion in assets under management [1][2] - The acquisition marks Mercer's 100th acquisition since 2016, indicating a strong growth strategy through consolidation in the wealth management sector [2] Company Overview - Mercer Global Advisors is a Denver-based registered investment advisor managing approximately $90 billion in client assets [1] - Glass Jacobson Wealth Advisors, founded in 1962, transitioned from an accounting and tax firm to a wealth management firm in 2001, growing its assets under management from about $477 million in 2020 to $1 billion [3][5] Strategic Rationale - The acquisition is seen as a strategic fit due to Glass Jacobson's strong fiduciary financial team and sophisticated tax practices, along with a robust bench of second-generation advisors [3][4] - The partnership aims to align values and fiduciary commitments, with incentives for both principals and second-generation advisors to foster continued growth [6][7] Team and Leadership - The acquisition adds a 22-person team managing over 660 wealth clients to Mercer [2] - Glass Jacobson's leadership includes John Dinkins, who has been with the firm since 2002 and holds a minority stake [5]

A record-breaking year for crypto mergers and acquisitions is facing a harsh reckoning https://t.co/QxUmk1EwXD ...

Group 1 - FrieslandCampina plans to acquire Wisconsin Whey Protein to enhance its B2B ingredients segment, significantly increasing its whey protein capacity [1][2] - The acquisition is described as a "milestone" for FrieslandCampina's ingredients division, aiming to expand its market presence from Europe and Asia into North America [2] - The whey protein market is projected to grow at an annual rate of 6.6% until 2030, indicating a favorable environment for FrieslandCampina's expansion [3] Group 2 - FrieslandCampina reported a 6.4% increase in revenue to €6.8 billion ($7.9 billion) in the first half of 2025, with net profit rising by 25.7% to €230 million [3] - Operating profit increased by 20.6% to €363 million, driven by strong performances in the Specialised Nutrition and Ingredients divisions [4] - The company has acknowledged potential external headwinds that may pressure profits in the latter half of the year [4]