HALISTER: Illumina Climbs; Thermo Fisher Said to Make Offer:StreetInsider

Illumina Climbs; Thermo Fisher Said to Make Offer:StreetInsider

(Bloomberg) -- Thermo Fisher said to make $30b bid for Illumina, StreetInsider.com said, citing person claiming knowledge of the matter.
  • Deal would be all stock transaction
  • JPMorgan, BofAML said to be advisors on deal
  • ILMN, TMO didn’t respond to StreetInsider requests for comment
  • ILMN up as much as 2.7%, most intraday since Aug. 15
  • NOTE: May 2013, Roche Spokesman Reiterates That Illumina Is ‘Off the Table’
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
TMO US (Thermo Fisher Scientific Inc)
ILMN US (Illumina Inc)

Topics
Waste & Environ Svcs & Equip

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UUID: 7947283

HALISTER1: BW Offshore Raised at Sundal Collier; ‘Living Well’ at $50/Bbl

BW Offshore Raised at Sundal Collier; ‘Living Well’ at $50/Bbl

(Bloomberg) -- BW Offshore raised to buy at Sundal Collier, with PT decrease of 60% to NOK0.40; says co. “living well” with oil in $50-$55/bbl range, a price range “which we expect.”
  • Sees deep discount that market now placing on valuation to narrow as investors start to appreciate abated financial, operating risk following capital raise
    • Co.’s turnaround “basically eliminating” refinance risk until 1Q 2020; case very different from other restructuring deals “for which segment supply/demand is ‘destroyed’ for years to come”; sees higher backlog integrity for BW Offshore
    • Also likes risk/reward of bonds trading in 60s
  • Shares up as much as 15% today, most since Aug. 5; stock’s gain to date of 67% is on track for largest since 2Q 2009
  • Co. to report 2Q on Aug. 29
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BWO NO (BW Offshore Ltd)

People
Haakon Amundsen (ABG Sundal Collier Holding ASA)
Lukas Daul (ABG Sundal Collier Holding ASA)

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UUID: 7947283

HALISTER1: Brazil’s Uncertain Political Backdrop Weighs on BRL: Analysts

Brazil’s Uncertain Political Backdrop Weighs on BRL: Analysts

(Bloomberg) -- The delay of the vote in Brazil’s Senate on a measure that aims to free up 30% of the govt budget is weighing on local assets, analysts say.
  • Lack of quorum to vote on the proposal highlights the difficulties the govt faces with potential reforms, Camila Abdelmalack, chief economist at CM Capital Markets, says in a phone interview
  • “If it is getting a hard time to approve simpler measures, what will happen when it has to go through very necessary but unpopular adjustments like pension reform?”
  • “The market recognizes a certain fiscal lenience and the truce with the government is narrowing,” Eduardo Velho, chief economist at INVX Global Partners, says
  • BCB’s daily auctions of FX reverse swaps are also helping to temper BRL’s ability to follow other EMFX gains, Jayro Rezende, treasurer at Banco da China, says
  • NOTE: BRL little changed after dropping earlier, underperforming most EMFX; DI rates rise
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Camila Abdelmalack (Cm Capital Markets Corretora De Cambio Titulo E Valores Mobiliarios Ltda)
Eduardo Velho (Invx Global Partners)
Jayro Rezende (Bank of China Ltd)

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UUID: 7947283