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Merger Monday, Bloomberg's Bid, Holiday Movie Recs

Squawk Pod

06:45 min | 3 years ago

Merger Monday, Bloomberg's Bid, Holiday Movie Recs

"Good morning everybody. Welcome to Squawk box here on. CNBC we are live from the Nasdaq market site. In Times Square becky quick along with Joe Kernan and Andrew. Ross sorkin first step on this morning's pod a couple of updates on stories we've had our eyes on or IRS's on if you get your squawk through ear buds instead of on a screen. Remember in October when French luxury conglomerate. LVMH made a bid for New York's iconic jeweler tiffany. Well they up the bed the very shiny prize a big deal. This morning of the world's largest luxury goods company has now confirmed his reached a deal to buy tiffany. This has been quite at some time in the making the price tag this time. One hundred thirty five dollars per share in cash sixteen point two billion dollars total the largest ever in the luxury sector the boards both companies approving that deal yesterday afternoon and the transaction expected to close in the middle of next year will mark the end of Tiffany's one hundred eighty two year history as a standalone brand and a little blue box isn't changing but it does reflect the changes to remain independent amid increasing consolidation across retail and adding tiffany's Eddie Murphy to the portfolio will strengthen. LVMH's position forcing watches jewelry. The group acquired Gary and back in two thousand eleven eleven like Lvmh t LVMH T- LVMH. What if I would pay? How much would that cost the figure out to add a t not to do you think they should? I think they should add T. You think it's that important. Is that valuable important as those ugly back and look but what is amazing is that they did get him up. I mean this one hundred thirty five dollar price tag came up from one hundred twenty dollars recall when when this when when they first went after him and the question I think we threw out. There was whether they'd get one hundred thirty five bucks one hundred at forty. They didn't push back if you go back. And Look at tiffany stock even two or three years ago where it was relative to where it is today so I I mean the interesting stuff therefore therefore baby gifts like a little spoon. Yes in general. I don't know it's like super retail. I think Chinese people love in China. It's big and Chinese on these sorts of come here it's really be in the United States. Just me personally. I you know when you go to forty seventh street. I'm sure not. I mean I would rather go down there. forty-two the haggle. Well just don't pay absolute top dollar for for stuff that everybody else has and another deal. We've been following following Charles Schwab effort to buy. Td Ameritrade as of this morning. That's done to Charles. Schwab Corporation is going to be acquiring. Td Ameritrade this is a story. We we first reported last week. Td Ameritrade is now naming Stephen Boyle as the interim president president and CEO suspending their CEO. Search because obviously this will be taken care of with with this deal. Charles Schwab is offering issue is going to be issuing one point eight three seven shares for every td ameritrade share. That's out there We'll continue to keep an eye on says Charles Schwab saying that. Toronto Dominion Bank's going to be holding about thirteen percent of a stake in the combined company. You could see right now. Charles Schwab shares which ran up last week on. This news are right now down by about twenty two cents to forty seven ninety eight so maintaining basically the gains that they had seen last week on this when it was first announced. Td Ameritrade shares at this point indicated by about two point three percent. That's a gain of a dollar thirteen to forty nine twenty six again after they saw gains last week as well. Charles Schwab saying that they see this deal being fifteen to twenty percent of creative give to the adjusted earnings per share in the third year in the third year of this deal Schwab right. It's going to be called Schwab. This sounds sounds like a fun thing though analysts have looked at this and said because they both have very strong trading platforms. That you won't see as much of the accretion in terms at the probably both the Charles Schwab and td Ameritrade plan trading trading platforms operating. Because they don't overlap. There's some things the. TD AMERITRADE has like options for insurance little bit stronger. Charles Schwab has a lot of things like People who will talk to you and guide you through these things because of that the probably see some analysts analysts speculating around forty percent in terms of the accretion that they can kind of combine and put these together with those both platforms need to advertise separately swap box. Random House expected to be where you will see some of the. Oh no no no I got a double double down on both platforms. They say anything. But I close with this point break- fees and I don't know I. I have not seen that to me though the two issues. That will be interesting a break-up fee whether you interesting because you think out trust issue not so much on the consumer side but potentially For for all of the investment advisers out there really I mean I think collectively collectively they have like sixty seventy percent. Would you say this is that works serious antics three so they are two things there. There may be a look. Get that and so you you care about that issue. The other issue would be about deposits that that used to stay at. Td Bank so td Ameritrade used to run all their deposits. It's into Toronto. Dominion Inter Dominion. That was actually a huge fee generator for TV bank. And so once. If you take those out I assume Schwab is going to keep those Deposits in their own bank effectively. What that does to? TD LONG-TERM SO. These are some of the questions that I think at least in baking world. They're they're probably so but I don't know I'm GONNA. We'll look great deal. That's good news for holiday. Travelers gas prices down this quarter of the lumber survey the national average falling four cents cents to two dollars and sixty six cents per gallon drop is likely due to an increase in supply now that several refinery repair projects have been completed. Also a word of warning warning triple as saying Wednesday is the worst day of this holiday week to travel with trips taking as much as four times long four times two hundred percent longer due to congestion I in some weather issues. That could be a little more difficult Wednesday out of on the East Coast here starting in Colorado and coming across do you. ooh The minivan. Yes sir. What about it? Is there a a hybrid model that you can buy make hybrid models. That'll make a cool or no. Let's give it up for just wondering why you haven't truck Tesla. Yeah that's what I was saying. Why why aren't you? Just springing brings for something electric because you need a minivan supplements. There's no electric minivans or there's no My mic one. Now they're not cheap anymore. Ah Minivans by themselves this is unlike so like so many of you. That don't walk the walk when you talk about other stuff. The vacuum cleaner in the minivan is more important than

Charles Schwab Td Ameritrade Lvmh Lvmh T- Lvmh Schwab Corporation Tiffany Td Bank Cnbc Toronto Times Square Ross Sorkin Dominion Bank Joe Kernan IRS China United States New York Inter Dominion