Your daily dose of financial news The Brief – 5.19.16

Robins Kaplan LLP

Bayer’s making good on its rumored interest in Monsanto in a deal that could be valued at more than $42 billion and would bring together two of the world’s biggest suppliers of crop seeds and pesticides – WSJ and Bloomberg

The Deal Professor writes that merger deals are usually top secret affairs, full of code names and plenty of secrecy. But in the case of Yahoo and its auction process, there’s not exactly the same premium placed on keeping bidding news on the DL – NYTimes

Bank of America, Deutsche Bank, Credit Agricole, Credit Suisse, and Nomura are the subject of a newly filed SDNY action by the Boston Retirement System on behalf of a class accusing their traders of conspiring to “manipulate trading agency bonds issued by government entities and institutions like the World, harming investors who bought and sold the securities” – Bloomberg and Law360

Under pressure from regulators, Theranos has voided two full years of blood-test results from its Edison devices – WSJ

April’s Fed minutes were out yesterday, and they show that the Fed’s trying to let markets know that it’s not kidding around about the possibility of raising rates again as early as June – NYTimes and WSJ

The results of a ECB working paper out this month suggest that some traders are front running the release of economic data—though the source of the various leaks and the reason behind the generally uniform timing of the moves (about 30 minutes before the official release) is as yet unknown – WSJ

Add Suzuki to the list of world automakers admitting irregularities in their government test reporting. While the Japanese automaker said its testing hadn’t exaggerated mileage ratings, it conceded that it used “improper methods” to determine the fuel economy of 16 models it sells in Japan. The announcement came on the same day Mitsubishi’s president resigned in the wake of its own fuel economy cheating scandal – NYTimes

A group of the world’s most influential activist investors are banding together to launch a DC-based lobbying group dubbed Circa to  ward off increasing attacks on shareholder activism – WSJ

Credit Suisse has been involuntarily shedding senior bankers over the past week as internal concern about the Swiss bank’s commitment to investment banking under newish CEO Tidjane Thiam appears to be spreading – NYTimes

No kids, it’s not just another brick in the wallHuffington Post

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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