MarketFoolery: 05.19.2014

MarketFoolery

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4.7 • 1.7K Ratings

🗓️ 19 May 2014

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

AT&T makes a $49 billion bid for DirecTV, while AstraZeneca turns down a $117 billion offer from Pfizer. Our analysts try to make sense of it all and offer up a couple of merger-related ideas of their own.

Transcript

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0:00.0	It's Monday, May 19th.
0:04.0	Welcome to Market Fullry.
0:05.0	I'm Chris Hill joining me in studio today from Fool.com, David Hanson and Taylor Mockerman.
0:10.0	Happy Monday, guys.
0:11.0	Look to you, buddy.
0:12.0	Belated, happy birthday to Taylor Markerman.
0:14.0	Thank you, I appreciate that.
0:15.0	You ripped it up yesterday?
0:16.0	I tried to, but I had to make it in to get on this radio show.
0:19.0	It is Merger Monday.
0:22.0	We will talk about one merger that appears to be happening and one merger that is not.
0:27.0	Let's start with the one that is AT&T buying Direct TV for around $49 billion if you assume the debt.
0:36.4	This is a $67 billion deal.
0:40.4	David, if this is such a great deal, and I'm not saying it is such a great deal, but it does seem
0:45.5	like since we've talked about it for a while, it's been reported that these talks have been going
0:49.6	on, and nobody has stood up and said,
0:53.5	whoa, whoa, this is a terrible idea.
0:55.3	So if this is such a good deal,
0:57.3	why are both stocks down today?
0:58.8	What's going on?
0:59.7	Yeah, Direct TV down to what, $83? and the proposed bid was 95. Yeah. So it's a very large
1:06.7	spread here and I'm not a merger arb expert but when a spread you're not I'm not
	...

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