HALISTER: MORE: Microsoft to Buy Linkedin for $196/Share in Cash

MORE: Microsoft to Buy Linkedin for $196/Share in Cash

(Bloomberg) -- Microsoft in definitive agreement to buy Linkedin for $26.2b or $196 per share in cash, about a 49.5% premium to Friday’s close.
  • LNKD up 48.3% pre-market
  • Jeff Weiner will remain CEO of LinkedIn
  • Reid Hoffman, chairman of LNKD’s, co-founder and controlling shareholder of LinkedIn, and Weiner both support the deal
  • Transaction unanimously approved by the both boards
  • Expected to close this calendar year; Morgan Stanley advising Microsoft; Qatalyst Partners and Allen & Co. advising LinkedIn
  • $725m termination fee
  • Microsoft expects deal to have minimal dilution of ~1% to non-GAAP EPS for remainder of fiscal 2017 and for 2018
    • Expected to be accretive to non-GAAP EPS starting in FY2019
  • MSFT reiterates $40b buyback plan
  • Call at 11:45am webcast
Statement link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MSFT US (Microsoft Corp)
LNKD US (LinkedIn Corp)

People
Jeffrey Weiner (LinkedIn Corp)
Reid Hoffman (LinkedIn Corp)

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UUID: 7947283

HALISTER: LinkedIn to Be Bought by Microsoft for $26.2b, or $196-Share

LinkedIn to Be Bought by Microsoft for $26.2b, or $196-Share

(Bloomberg) -- LinkedIn to be bought by Microsoft for $196-share cash, or 49.5% premium to Fri. close.
  • MSFT halted; LNKD up ~46% pre-market to $191.80-share
Statement: NSN O8PMRUBE07I9
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MSFT US (Microsoft Corp)
LNKD US (LinkedIn Corp)

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UUID: 7947283

(2) *MICROSOFT TO BUY LINKEDIN IN DEAL VALUED AT $26.2B

*MICROSOFT TO BUY LINKEDIN IN DEAL VALUED AT $26.2B

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
MSFT US (Microsoft Corp)
LNKD US (LinkedIn Corp)

People
Jeffrey Weiner (LinkedIn Corp)
Reid Hoffman (LinkedIn Corp)
Satya Nadella (Microsoft Corp)

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UUID: 7947283

HALISTER: M&A WATCH N.A.: Ashford Hospitality, FireEye, Yahoo

M&A WATCH N.A.: Ashford Hospitality, FireEye, Yahoo

(Bloomberg) -- What to watch for in North American M&A today. Deal/Activist News:
  • SYMC, FEYE: Symantec to Buy Security Firm Blue Coat for $4.65b
    • Symantec Said to Have Been in Advanced Talks to Buy FireEye
  • VIAB: National Amusements Said Exploring Paramount Options: Reuters
  • YHOO: Verizon, AT&T Said to Make Final Round Bids for Yahoo: Reuters
  • SYT/ChemChina: Chinese State-Owned Companies Face Greater Scrutiny of EU Deals After Ruling: Reuters
  • AXLL/WLK/Lotte Chemical: Lotte Chemical Withdraws Bid for Axiall Corp.: Yonhap News Says
  • AGN, TEVA: Dr Reddy’s to Acquire Teva Product Portfolio for $350m: Filing
  • IOC/OSH AU: IOC Sets Holder Vote for July 28
  • AHP: AHP Hires Deutsche Bank, Law Firm Cadwalader Wickersham as Advisers on Weisman Proposal
  • PLCM/MITL: Amendement No. 1 to S-4 Filed; No Dates Set
  • LVNTA: Amendment No. 1 to Liberty Expedia S-1 Filed
  • CPXX/JAZZ: Tender Offer, 14D9 Filed
  • NKA: Niska Gas Storage 4Q Adj. Ebitda $6.6m
  • MDVN/SNY: Definitive Consent Revocation Statement Filed
Events Today:
  • SYMC, Blue Coat: Deal Call Started 8am
  • SYUT/Chairman – SYUT Earns Call Started 8am
  • TYC/JCI – JCI Analyst Day 11am
  • OPWR/ORCL – Tender Offer Expires
  • STJ/ABT - HSR Filing Deadline
  • TIVO/ROVI: HSR Expires
  • SQI/Accel-KKR: HSR, Proxy Filing Deadline
  • LDRH/ZBH: HSR Filing Deadline
  • CPXX/JAZZ – Tender Offer, HSR Start Deadline
  • ELRC /Platinum – HSR Filing Deadline
  • FMER/HBAN – FMER 2pm, HBAN 1pm Holder Votes
  • MDVN/SNY – HSR Expires
  • PLCM/MITL – Germany Expires
  • STJ/ABT – HSR Filing Deadline
  • TIVO/ROVI – HSR Expires
  • WIBC/BBCN – WIBC ex-div
  • ACAS/ARCC – ARCC ex-div
  • MRD/RRC – RRC ex-div
  • PKY/CUZ – PKY ex-div
  • LMT/LDOS – LDOS ex-div
  • MBT CT/BCE CT – BCE CN, MBT CN ex-div
Analyst Views:
  • Cybersecurity Stocks May Move Following Blue Coat/Symantec Deal
  • Axiall Cut to Neutral at JPMorgan
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
YHOO US (Yahoo! Inc)
AHP US (Ashford Hospitality Prime Inc)
FEYE US (FireEye Inc)
CHNCCZ CH (China National Chemical Corp)
SYNN VX (Syngenta AG)

Topics
Leveraged Finance

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UUID: 7947283

HALISTER1: UST MORNING CALL: Large Short-Covering as Key Event Risks Loom

UST MORNING CALL: Large Short-Covering as Key Event Risks Loom

(Bloomberg) -- Treasury curve bull steepens overnight, driven by risk-off moves as a result of swing in recent U.K. EU referendum polls toward Brexit.
  • CFTC data show speculators had a major short-covering reversal in 10Y note futures ($14.1b swing), following the recent weak NFP numbers, Nomura writes in a client note
    • Net short in TY was approaching record levels, and is now almost flat, BMO writes in a client note
  • Short-covering in coming weeks should see 5Y sector outperform outright and on the curve; add outright longs in 5Y notes at 1.17%, Morgan Stanley writes in note
  • Analysts are mostly bullish on USD rates given the global bond rally, U.K. EU referendum risks, poor economic data; JPMorgan is the exception, recommends selling 5Y notes
  • Focus is on large event risks this week with BOJ, FOMC and BOE all due to announce policy decisions
    • Even without Brexit, doubtful Fed will be hawkish as inflation expectations are falling and few fundamental reasons for rates to turnaround soon, RBS writes in a client note
  • Technicals:
    • Resistance: 131-25+ (Overnight high, 1.61% 10Y), 131-27 (pivot r3)
    • Support: 131-00+ (June 10 low), 130-20 (June 6 low), 130-14+ (June 3 mid price), 129-27 (June 3 low)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Apple’s iPhone Sales Said to Fall for First Time in 2016: Nikkei

Apple’s iPhone Sales Said to Fall for First Time in 2016: Nikkei

(Bloomberg) -- iPhone annual shipments to fall for first time since 2007 this year due to lukewarm demand for a new model, Nikkei reports, citing unidentified people familiar.
  • Overall iPhone shipments will total 210m-220m this year, falling as much as 8.6% from 2015, Nikkei reports, citing unidentified person at a major supplier
  • Hon Hai Precision Industry Chairman Terry Gou has told his staff that demand for iPhones will remain feeble until at least early next year: Nikkei cites unidentified source
  • Hon Hai declined to comment; Apple did not immediately return a request seeking comments: Nikkei
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AAPL US (Apple Inc)
2317 TT (Hon Hai Precision Industry Co Ltd)

People
Gou Tai-Ming (Hon Hai Precision Industry Co Ltd)

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UUID: 7947283