Manic Merger Monday, Uber Stripped of its London License, Bloomberg Enters the 2020 Presidential Race
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 25 November 2019
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. |
| 0:10.8 | Good Monday morning. Welcome to Squawk on the Street. I'm Carl Cantonia with Jim Kramer, David Faber at the New York Stock Exchange. |
| 0:16.3 | Solid futures to start a holiday shortened week, thanks to constructive China trade headlines, |
| 0:21.5 | some $60 billion in formally announced M&A involving Schwab, TD, Tiffany, Novartis, and more. |
| 0:27.6 | Europe is steady, 10-year 178 pal does make some remarks later on tonight. |
| 0:32.3 | Our roadmap begins with Megadil Monday, LVMH confirming a deal to acquire the iconic jewelry brand Tiffany for 16.2 billion. |
| 0:40.1 | Plus, Charles Schwab is buying a merit trade. It's a $26 billion all-stock deal. |
| 0:45.2 | It will combine the companies. The two biggest publicly traded discount brokers would have more than $5 trillion in client assets. |
| 0:52.5 | And eBay set to sell off Stubhub in an all-cash deal for nearly $4 billion. |
| 0:56.8 | David's got details on that. |
| 0:59.1 | Let's start, though, with this historic deal in luxury goods. |
| 1:01.6 | LVMH will acquire Tiffany for $16.2 billion in cash. |
| 1:05.9 | Deals worth $135 a share. |
| 1:07.4 | Two companies expect to complete that deal by mid-2020. |
| 1:16.0 | And David, I assume you can fill us in on what's going to happen to the brand, synergies, and all of that. |
| 1:26.0 | You know, listen, I mean, it's an important transaction for LVMH, which has tried twice before, is my understanding, and not been able to get there, had done it privately. |
| 1:35.5 | From a M&A strategic point of view, this went about as well as sort of it could have been hoped for from both sides. |
| 1:40.5 | You had seasoned advisors on both sides who I think guys thought they would get to a deal, |
| 1:43.0 | even though you started at 120, ended at 135. |
| 1:47.3 | Obviously, you know, not bad in terms of an additional premium, but something certainly that you can imagine that Bernard Arnaud, |
| 1:51.9 | the man who's created LVMH, is happy to live with. There had been an expectation initially that |
| 1:56.6 | this company wanted its all-time high, which would have been about five bucks higher. You knew |
... |
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