Richard Beales and Jeff Goldfarb discuss the release by Allergan of emails from Morgan Stanley bankers that look bad now that the firm is working for Allergan's hostile $54 billion suitor, Valeant.
They -- -- hall style attempt to take it -- again 54 billion dollars. Is turning into a nasty war of words -- -- the latest thing is another reminder of the bank does need to be careful what they say. -- -- the bankers now suddenly open dragged into this and really -- usual way we have seen before I mean Allergan has been very aggressively. Try to resist. Valiants right and then they've made some good sort of business points that have some credibility absolutely but I have been a pretty tense fight it and now what they've done is they've put out some messages. Some emails that they got. About a month ago -- -- from a banker couple backers of -- grandly. So we're giving them a little bit of advice and obviously pitching for the business Morgan Stanley have not been higher by right side and they say things like well. You know you should be going more aggressively against valiants stock if they're offering you run their business small thing effectively saying you should be saying -- business mobile is sort of Holland right -- everybody -- not a good fit arena wherever you just sort of and get as well bankers to an attachment that then what problem as snow and Stanley is now what it really was hired last week pine valley -- place. So I mean -- this looks pretty bad even though we know that bankers. That are trying to get hired by one of two sides. Are apt to say you know to tell them they're different thing than a couple of interesting things it right and what is again that is that it -- We had we see aggressive tactics. And visit us for this is private emails. I don't -- bankers don't really speak to that you had been told me as a shareholder our game. What was -- -- -- -- -- -- -- shares -- not mean okay the bankers are doing some weird things -- you've exposed and you know an open. That's part of a scorched earth tactic that believed in those -- incentive they Gibson he's an ugly banker I'm freaked out right it's what it's all these pictures that I have been making. Which I do on a routine basis throughout my job could now. Get to novelist Ian of course it's a deal yet to its elegant yet it's -- in -- So there's so there's that Sosa thing you take -- of that so the logical next that would sort of ironic about this we're thinking about it you are talking about it is that. Or its -- sort of one of the best. Banks are best known banks and Silicon Valley gets hired by all -- tech companies to leave their IPOs right you know FaceBook and you know it and and did you know and yet they -- -- -- him no problem the bank is of an -- an eight mile -- -- bankers and traders are right caught. Year after year with really nasty emails don't make them look bad. You know however realty needs that -- the silicon so -- you -- these guys are close to all these these these tech companies wired and not using snapped at or some form requires about it corporate version of rapture. But these guys are using so that they can have these frank. Communiques which we need to have what the depiction of -- -- over the client so that they. You know that the senate did the idea would be that some means that which they can. Put in that pitch -- and at least it's certain aspects of its own and operate right exactly so maybe this well. Show both Silicon Valley and Wall Street that there's a pretty good market for -- target thanks definitely for of them will be banquet will breaking news tomorrow.