Halister News

(Bloomberg) -- In private talks with Unilever’s board, bankers pushed the company to acquire Colgate while conditions are “ripe,” StreetInsider said, citing person claiming to have knowledge of the matter.

• Bankers cited strength in pound sterling, UN share price increase, relative weakness in CL shares
• Potential purchase would be financed 50% cash, 50% stock
• Not clear if UN will act on advice or whether it may have talks with CL in the near future
• CL up as much as 3.5%, most intraday since May 17
• NOTE: May 16, Colgate CEO Said to Be Open to Sale at $100/Share: New York Post
• NOTE: May 17, Unilever Colgate Bid ‘Would Make Strategic Sense’: Jefferies

To contact the reporter on this story: Joshua Fineman in New York at jfineman@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Scott Schnipper

(Bloomberg) -- Fed’s July FOMC statement still points to normalizing interest rates and the balance sheet, but raised the recent deceleration in inflation from being a “difficult-to-understand annoyance” to a development that could delay both rate hikes and asset unwind, Jefferies economists Ward McCarthy and Thomas Simons say in note.

• “The descriptor ‘relatively’ gives policy makers some wiggle room” in the event the labor market, inflation data, “or possibly a debt ceiling crisis, gives the FOMC cold feet in September”
• Relatively may also mean FOMC could make an official announcement on balance sheet normalization as soon as September

To contact the reporter on this story: Alexandra Harris in New York at aharris48@bloomberg.net To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net Brian Chappatta

(Bloomberg) -- President Donald Trump said to have softened his stance against Time Warner/AT&T deal, LA Times reported July 25, citing executives familiar with Justice Dept. review of transaction.

• Executives familiar said expected deal to be approved as early as September
• T CEO Randall Stephenson was among officials who invited Trump to speak at West Virginia jamboree of Boy Scouts of America July 25
• NOTE: July 25, AT&T Sees Time Warner Deal Closing By Year End
• NOTE: July 24, AT&T Said to Be in Early U.S. Talks for Time Warner Approval
• NOTE: July 14, Time Warner/AT&T Deal Could Close as Soon as Mid-Sept.: CNBC
• NOTE: July 7, Blocking TWX/T is Said Not to Top Bannon’s Agenda: Politico

To contact the reporter on this story: Joshua Fineman in New York at jfineman@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Joshua Fineman

(Bloomberg) -- Federal Open Market Committee seen leaving benchmark interest rate unchanged, with 1% lower bound, 1.25% upper bound; could provide additional details on planned balance sheet reduction.

• Bloomberg will live blog the FOMC rate decision. Follow the TOPLive blog here.
• Recent comments by central bankers signal “broad-based support to start the balance-sheet runoff before pursing any additional rate hikes”: Bloomberg Intelligence
  • Most economists surveyed by Bloomberg anticipate the Fed will announce the timing of the first roll-offs at its September policy meeting
• Also see:
  • Balance-Sheet Plan Missing Key Detail Tied to Bond Squeezes

--Washington Newsroom (202) 624-1820