Mondelez Abandons Hershey Talks Two Months After Bid Snubbed (Bloomberg)
Mondelez International Inc. is walking away from takeover discussions with Hershey Co. two months after its $23 billion bid was rejected by the chocolate maker. Seeing “no actionable path forward toward an agreement,” Mondelez has ended talks over a merger, according to a statement from the Oreo maker on Monday. Hershey’s board had said on June 30 that it unanimously rejected Mondelez’s $107-a-share bid. Mondelez later boosted its offer to $115 a share before abandoning discussions, according to a person familiar with the situation.
Valeant is sued over Philidor ties, alleged racketeering (Reuters)
Valeant Pharmaceuticals International Inc was sued on Monday by buyers of its drugs, who accused the Canadian company of racketeering by forcing them to pay exorbitant prices. The proposed class-action complaint was filed in the U.S. District Court in Manhattan on behalf of unionized New York City police detectives and hotel workers, regarding Valeant's ties to the now defunct specialty pharmacy Philidor RX Services LLC. The plaintiffs accused Valeant of violating the U.S. Racketeer Influenced and Corrupt Organizations Act, and seeks compensatory and triple damages for U.S. health plans and others that bought its drugs from January 2013 to October 2015.
Wall Street doesn't just see a Hillary win, it sees a landslide (CNBC)
Wall Street is pricing in a landslide victory for Hillary Clinton, but if she starts to lag, there could be a big unwinding of stock and bond market positions, according to Bank of America Merrill Lynch's David Woo. Woo said the market is also pricing in a split Congress, with Republicans controlling the House and Democrats the Senate. That would maintain the deadlock in Washington.
Warsaw charm offensive for London bankers (FT)
Poland has become the latest European country to woo some of Britain’s biggest banks in the wake of the Brexit vote with a charm offensive in London this week to lure City institutions to Warsaw. The Polish deputy prime minister will arrive on Thursday armed with a package of incentives to offer senior executives at some of the biggest banks in the City that have shown an interest in shifting jobs to the continent. “Many of them have approached us,” Mateusz Morawiecki said. “There is clearly increased interest in leaving London.”
Harambe-Costumed Teen Re-Enacts Tragedy At High School Football Game (HP)
The Cincinnati Zoo’s recent gripes about all the Harambe memes, petitions and signs don’t seem to be having much of an effect. Case in point: Two teens performed a re-enactment of the tragedy at a high school football game in Illinois Friday night. During a game between East Oswego High School and West Joliet, a person in a gorilla costume “entertained” the crowd by grabbing someone dressed as a small child and dragging him down the field, according to the Independent.
Apple's Irish Tax Bill May Run Into Billions of Euros (Bloomberg)
The European Commission decision is expected to say Ireland provided the iPhone maker with illegal aid through a sweetheart deal in return for creating jobs in the nation, the people said on condition of anonymity because the details are confidential. Ireland has vowed to fight any adverse finding. Such a ruling might heighten tensions between Europe and the U.S. over taxation policies, with the U.S. having already complained that Europe is unfairly targeting American companies and threatening global tax reforms.
Tepper likely to win $11B lawsuit against Caesars: sources (NYP)
David Tepper is the odds-on favorite to win an $11 billion lawsuit against Caesars Entertainment. That’s according to the mediator trying to hammer out a deal between the casino giant and holdout creditors in the contentious bankruptcy of Caesars’ biggest operating unit. Creditors, including Tepper’s Appaloosa Management, have sued Caesars in New York, accusing the non-bankrupt parent of reneging on guarantees to pay debt issued by the operating unit before it filed for bankruptcy in January 2015.
Edward Lampert and His White Whale, Sears (Dealbook)
What Mr. Lampert once called an “enormous undertaking” to revive Sears, once America’s biggest retailer, has become an increasingly forlorn pursuit, however. Sears shares have lost nearly 90 percent of their value since 2007 as the company failed to keep pace with retailers like Walmart Stores, Target and Amazon.com.
Photographer snaps bats having on-field sex during Ravens-Lions game (UPI)
A news photographer at the Ravens-Lions game captured an image of an unusual pair of on-field streakers: two bats having sex. Karl Ferron, a photographer for the Baltimore Sun, snapped a photo during Saturday night's game of Baltimore Ravens player Jeremy Butler running the ball into the end zone. A zoomed-in version of the picture revealed Ferron had passed by an unusual sight: two bats having sex in the end zone. "Bats have sex beneath #Ravens Jeremy Butler vs #Lions -- They were escorted safely from the field. #batsex," Ferron tweeted, along with the version of the photo clearly showing the copulating animals.