Unilever Food Arm to Join McCormick in $44.8 Billion Deal

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Diana Gomes, Bloomberg Intelligence Senior Equity Analyst, discusses Unilever agreeing to combine its food business with McCormick & Co. in a $44.8 billion deal that will create a global seasonings, sauces and condiments company. Under the agreement, McCormick will pay $15.7 billion in cash and the equivalent of $29.1 billion in shares for most of Unilever’s food business, leaving Unilever with 65% of the combined entity.

-Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the latest M&A in the biotech sector. Eli Lilly & Co. agreed to buy Centessa Pharmaceuticals Plc in a deal worth up to $7.8 billion to bulk up its treatment pipeline for other conditions.
Biogen Inc. has agreed to acquire Apellis Pharmaceuticals Inc. for $5.6 billion, expanding its treatments in immunology and rare diseases.

-Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses Nvidia taking a $2 billion stake in Marvell Technology. It is opening up its system to allow Marvell to integrate custom artificial intelligence chips and networking equipment on the platform.

-Hannah Levitt, Bloomberg Senior Finance Reporter, discusses JPMorgan Chase announcing the "American Dream Initiative" to expand economic opportunity in local communities across the country, spanning six focus areas including small businesses, housing and financial health.

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