M&A Deals Halted, 2025 Deals Still On, & Gauging the Tariff Pinch 12/11/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 11 December 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Two major corporate deals withered on Tuesday. A judge blocked the pending $25 billion merger of grocery chains Kroger and Albertsons, and President Biden reportedly plans to block U.S. Steel’s $14.1 billion sale to Nippon Steel. Dealmaking on public markets will continue in 2025, according to Lead Edge Capital founding partner Mitchell Green. The Alibaba, Uber, and Spotify backer discusses the IPO window as we wind down 2024. His rationale for a slow year for market debuts: many of the best companies raised enough capital in 2021 and 2022 to hold off on an IPO. Plus, Port of Los Angeles executive director Gene Seroka discusses the potential impact of President-elect Trump’s tariff plans on the supply chain and consumer prices. Mitchell Green - 14:35 Gene Seroka - 23:31 In this episode: Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:04.3	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.5	Let's call the whole thing off.
0:11.0	A couple of corporate deals withering.
0:13.5	A mega grocery store merger dies,
0:15.6	and the White House blocking Nippon's purchase of U.S. Steel.
0:19.0	Well, the question is, do you think steel is a national security?
0:21.6	National security.
0:22.6	Is Japan a national security threat?
0:24.6	Not now.
0:25.6	The Road to the Public Market for fast-growing startups, venture investor Mitchell Green.
0:30.6	The best companies raised so much money in 20 and 21.
0:34.6	They effectively completed IPOs already.
0:38.3	As private businesses.
0:39.3	And will 2025 be naughty or nice for the supply chain and consumer prices?
0:46.3	The head of one of the nation's biggest ports weighs in on the tariff threat, Port of LA's Gene Soroka.
0:52.3	In the last quarter plus, you've seen retailers, footwear, clothiers, front-loading inventories
0:58.7	to average that cost down. In the event, we see a widespread tariff implementation.
1:04.6	All that today on the podcast.
1:07.2	It is Wednesday, December 11th, 2024. Squawk Pod begins right now.
1:12.7	Stand and her by in three, two, one, cue, Andrew.
	...

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