Gee — It’s A Small [High Finance] World: Oracle & Merck Use The Same Four Main US Investment Bankers…

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Earlier this morning, we detailed the multi-tranche debt issuances being deployed by four of the most powerful investment banks on the planet — to help Merck set up the balance sheet proportions for the Terns acquitision — a modest $6.7 billion (by comparison to the ~$28 billion in 2022 Mr. Ellison needed to buy Cerner’s EHR businesses).

It always seems to be the same players — at the top of high finance, for investment grade borrowers. Fascinating:

…The initial $28.3 billion purchase of Cerner was primarily financed through a $15.7 billion bridge loan, which was later refinanced through term loans and a multi-part corporate bond sale.

The leading US banks involved in managing this multi-billion dollar debt and bond issuance included: JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., and Goldman Sachs Group Inc….

Now you know. Onward — but I suspect Merck’s Terns acquisition will generate a better return over the long haul, than Mr. Ellison’s Cerner buy.

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Power Alley: To Finance The Terns Purchase, Merck Will Offer A Series Of Layered-Maturity Bonds, Under Existing SEC Shelf Registrations. Smart Finance, That, Mr. Davis.

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We are seriously looking at grabbing a few of the longer dated coupons, since this makes a nice low risk add — to the retirement draws. The interest will be taxable — but at around 5% a year, this is a nice add. And, Merck is smart to get the deal done before summer, when Tangerine 2.0’s “global calamity risk” looks to… rise.

What an odd… world. He is the opposite of what big business needs: stability. He offers… none [but he is finally dropping his $10 billion supposed (and preposterous) suit against the IRS today. Damn.] Existing Merck debt is trading in both deep, and liquid oceans — and this morning is yielding… Merck 4.90% (Due 05/17/2044): Trades around a 5.62% yield to maturity. Sweet.

In any event, while Barron’s reporting is incorrect that this is a “private” matter, the numerical details are accurate, as Rahway has this morning filed an SEC 424(b) red herring prospectus detailing the ~$6 billion offering of a series of debt securities.

…Merck is seeking to raise about $6 billion from an investment-grade bond sale to help finance its acquisition of Terns Pharmaceuticals Inc., according to people familiar with the matter.

Screenshot
Merck is selling the notes in as many as seven parts, according to a separate person with knowledge of the matter. The longest portion of the offering, a 30-year security, may yield about 1.05 percentage points above Treasuries, said the person, who asked not to be identified as the details are private….

Nope. Not private — being very publicly offered at Wall & Broad this morning. And if the yields on any of these bonds approach 5%, they are great long term, low risk ways to enhance your annual retirement draw — at a risk level almost identical to US Treasuries. You heard it here first. Onward, smiling.

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TRIVIA: Musk Is The LAST PERSON On Earth Who Should Be Talking About ANYONE’S “Looks”.

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Elon apparently thinks Lupita is “not pretty enough” — to play Helen of Troy.

…Musk added that Nolan has “lost his integrity” by casting the Oscar-winning actress, 43, in the role….

Okay — look, Elon’s views are… odious — and irrelevant. Mr. Nolan has ALREADY decided.

But let’s be clear — the guy at right has zero room whatsoever, to speak… about anyone else’s looks.

Z E R O.

Out.

Rotors That Can Whir — With Stable Atmospheric/Dynamic Properties — On Mars, At Above Mach 1? That’s A Tough Materials Engineering Problem, For The 2030s.

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The next time we fly choppers, on Barsoom, it may be in the mid-2030s, and perhaps four or more will be encircling the Martian globe, at a time. . . that is the vision of the aptly named “Project Skyfall” at NASA | JPL.

Because the Martian atmosphere is only about 1% as dense as Earth’s (but her gravity is out of proportion, to the atmosphere — at about 1/6th of Earth’s — that’s… heavy lifting!), these rotors must spin much faster — much, much faster — to generate adequate lift, for flight operations — with real payloads aboard. And the lift dynamics must remain stable — even in Barsoomian dust devils, should these choppers fly through them.

This, in turn, means we’ll need rotor blades that won’t disintegrate, when spinning at more than the speed of sound. Yikes.

That is a materials engineering challenge of the first order. One the NASA team is now tackling. Here’s that story:

…The rotor blades that will carry NASA’s next-generation helicopters to new Martian heights broke the sound barrier during March tests at NASA’s Jet Propulsion Laboratory in Southern California. Data from the tests, which took place in a special chamber that can simulate environmental conditions on the Red Planet, indicate that the fastest traveling part of the rotor blade, the tips, can be accelerated beyond Mach 1 without breaking apart. Data gathered from 137 test runs will enable engineers to design aircraft capable of carrying heavier payloads, including science instruments.

“NASA had a great run with the Ingenuity Mars Helicopter, but we are asking these next-generation aircraft to do even more at the Red Planet,” said Al Chen, Mars Exploration Program manager at JPL. “That’s not an easy ask. While everything about Mars is hard, flying there is just about the hardest thing you can do. That’s because its atmosphere is so incredibly thin that it is hard to generate lift, and yet Mars has significant gravity….”

Yep — I love a challenge — where science is at the forefront.

These brilliant and fine people… will meet the moment. I know they will. Onward. [And yes, I went off, in search of some good news today… we sorely need it.]

नमस्ते

Ebola 2026: Another Eight Deaths Overnight, And WHO Now Includes Neighboring Uganda, In The Outbreak Alert…

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This is very troubling news, out of WHO — but it is what logically flows from gutting international public health aid, in these countries. We must all be certain that Elon Musk and Donald Trump are not able to shirk responsibility for these excess deaths. [And RFK, Jr., herre stateside, as well — with his nonsense about vaccines being dangerous.]

In any event, here is the story now including Uganda in the outbreak:

…The World Health Organization declared the Ebola disease outbreak caused by a rare virus in Congo and neighboring Uganda a public health emergency of international concern on Sunday, after more than 300 suspected cases and 88 deaths.

WHO said that the outbreak doesn’t meet the criteria of a pandemic emergency like COVID-19, and advised against the closure of international borders….

WHO said on X that a laboratory-confirmed case has also been reported in Congo’s capital, Kinshasa, which is about 1,000 kilometers (620 miles) from the outbreak’s epicenter in the eastern province of Ituri, suggesting a possible wider spread.

It said the patient had visited Ituri and that other suspected cases have also been reported in North Kivu province, which is one of Congo’s most populous and borders Uganda….

There is no approved vaccine for this apparent variant of Ebola. This is not the Sudan version — it is called “Bundibugyo”. That in turn is is very tough news — in two countries short on the sorts of resources needed, for full arrest of the viral spread.

Onward, resolutely just the same.

नमस्ते

Supporting The “Super-Spreader” Theory, For This, The Andes-Virus H., A Man Has It — In Vancouver, BC — But His Wife Does Not. Both, Ex-Hondius.

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As CIDRAP’s Executive Director, Michael Osterholm, indicated just under two days ago, it is increasingly likely that this Andes-Virus H. was sent over the air, on the Hondius liner, by a so called “super-spreader”. That would explain a husband being positive (from the spreader) — but then he did not transmit to his wife (since the husband was not a super-spreader). So it may be less about the strain of Hantavirus, itself — and more about the host carrying it, onboard — a super-spreader.

Thus, it may well turn out to be something unique — about the biological makeup of the person who was the “index case” — onboard the liner… now over two weeks ago.

In any event, here is the latest word, out of the UK’s Guardian, tonight:

…Canadian officials said on Saturday that a test for one of the four Canadians currently quarantining in British Columbia after being exposed to the hantavirus while on board the cruise ship where the outbreak occurred indicated a positive result.

Speaking at a news conference, Dr Bonnie Henry, British Columbia’s provincial health officer, said the individual developed mild symptoms, including fever and headache, two days ago, and that the individual and their partner, who had also been on board the cruise ship where they had been isolating together, were transferred to a hospital in Victoria for assessment and testing.

Henry said that on late Friday evening the test results for the individual who had been experiencing mild symptoms came back positive, but she stressed that the results were currently “what we call a presumptive positive” and that the samples have been sent to the national microbiology lab in Winnipeg for confirmatory testing. Results from those tests were expected to be confirmed over the course of the weekend, Henry said….

Onward — and I did cash a $53.50 ticket — on a $6 exacta box bet, with Napolean Solo winning the Preakness, and Iron Honor coming in second. I also had Great White, the Japanese horse who threw his mount before the start of the Derby (I was figuring he would be very ready to run, but alas — he finished out of the money). So it goes — babygrrl is in the air now, to Heathrow.

नमस्ते

In One Elapsed Day, Fatalities Leapt By 23% From Ebola In The Ituri Provincial Capital City, Bunia — In The DRC…

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This Ituri Ebola outbreak, in the remote eastern wilds of DRC… is plainly a runaway. Nearly 300 are sick now, and 15 more people have died, overnight. The total now stands at 80 deaths, but it certain to rise, in the coming days and nights.

This is from PBS | NPR reporting:

…At least 80 deaths have been reported in Congo’s new Ebola disease outbreak in the eastern Ituri province, authorities said, as health workers raced Saturday to intensify screening and contact tracing to contain the disease. Officials first announced the outbreak on Friday, with 65 deaths and 246 suspected cases.

Meanwhile, Associated Press journalists in Ituri’s capital, Bunia, interviewed locals who recounted their fears and constant burials.

“Every day, people are dying… and this has been going on for about a week. In a single day, we bury two, three, or even more people,” said Jean Marc Asimwe, a resident of Bunia. “At this point, we don’t really know what kind of disease it is,” said Asimwe….

This is what happens when the US turns its back on real preventative public health funding — thanks to Musk and Trump. I wish I had more upbeat, happier news today — but I. Do. Not.

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It Is Clear: Two Nights In A Row — Hinderaker Likes When His MAGA Candidates Spew Obvious Lies; And Invent Racially-Tinged “Footage” Of Opponents

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I suppose this is just John’s natural decline into both bitter, doddering old age — and the ripening of his long standing and obvious hatred of high-acheiving people of color… all boiling down, to a sticky tar.

But once again (as with last night) tonight, he lauds a “Lego” AI ad that features only lies about the sitting Mayor of Los Angeles — a Black woman.

To top it off, we are treated to this Pratt fellow as some form of caped super-hero (also in Lego form) conducting wholly invented acts — of ersatz bravery and compassion.

This is NOT just the “post truth” campaigning Hinderaker loves — no, this is… a disgusting debasement — of political discourse. [Far more Wm. Jennings Bryant, than Honest Abe.] Pratt churlishly tars an honorable opponent, one who will not stoop to this sort of deplorable lying, on TV, or on the web.

I think John should probably view the extremely tart — but not inaccurate — AI Lego videos of Tangerine 2.0’s debacles in the Middle East, now being streamed by pro-Iranian forces (likely the Republican Guard’s psy-ops division).

It is something he should think about, as the mid-terms approach: these ads will increasingly feature Vance / Hegseth and the GOP candidates for seats in the Senate and the US House.

Turn about is fair play, old man.

And your boys cannot handle this heat. [To be clear, I do not condone the Iranian agit-prop, but Pratt is all-but inviting these forces to air ads that treat him as a pedophile, as well.]

These MAGA clowns never think beyond the next move on the checkers board — and Chess is well-beyond their ken.

Just like Hinderaker, I suppose.

Onward, resolutely.

On Tuesday May 19, The French Guiana Spaceport Will Host A Launch Of A Joint EU / Chinese Mission Called… “SMILE”…

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This will be around 11:50 pm Eastern US time.

But it will be on the 18th, our time (our night before) — while it is almost dawn, in Central Europe. Do tune in, assuming there is no weather event that might push the launch out of limits — near the Eastern Equator off South America:

…Smile (the Solar wind Magnetosphere Ionosphere Link Explorer) is a joint mission between the European Space Agency and the Chinese Academy of Sciences. It will give humankind its first complete look at how Earth reacts to streams of particles and bursts of radiation from the Sun….

ESA will be broadcasting live as the European-Chinese Smile mission launches at 04:52 BST/05:52 CEST on 19 May 2026. Smile will launch on a European Vega-C rocket from Europe’s Spaceport in French Guiana. Dates/times subject to change at short notice [due to weather and overhead traffic, among other matters]….

Tune into ESA Web TV directly or via the ESA YouTube livestream to follow the launch live.

The launch programme will run from 05:30–07:09 CEST [11:50 pm, to 1:10 am Eastern US time on May 19]….

Now you know. Multinational cooperation is the rule… in space science. Politics? Not. So. Much. Onward, just the same.

नमस्ते

65 Are Already Dead, From “The Fire, This Time” — Ebola Has Reappeared, In The Remote Eastern Ituri Province, Of DRC…

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Well, this is highly discouraging. But not remotely. . . surprising. Thanks, Musk and Tangerine 2.0. And the numbers are already well out of hand, with over 246 suspected cases, and 65 dead, as of this morning — there will undoubtedly be many, many more, this time.

You’ll recall that two times ago, with USAID working in concert with WHO, the deaths ended at four — and there were only ever 12 who fell ill. In this outbreak — we are already well behind the control curve. Damn. Here’s that, from the UK Guardian:

…An outbreak of Ebola has killed 65 people in the Democratic Republic of the Congo, according to African health officials.

There have been 246 suspected cases of the deadly haemorrhagic fever reported so far in Ituri province, which shares borders with Uganda and South Sudan.

Officials at the Africa Centres for Disease Control and Prevention (Africa CDC) said they were concerned about the risk of further spread. The area is home to mining towns where people are constantly coming and going, making infectious disease control challenging.

The DRC has had 16 outbreaks of Ebola since the virus was identified there in 1976.

Dr Michael Head, senior research fellow in global health at the University of Southampton in the UK, said: “The Democratic Republic of the Congo often sees fatalities from Ebola. There is likely a perfect storm of factors that cause these regular outbreaks. Close human contact with animal reservoirs, most likely bats but possibly also primates, is one factor. Other concerns include the movement of people between rural and urban environments, the tropical climate, and the high rainforest coverage….”

During the 2014-16 outbreak in west Africa there were an estimated 28,000 cases and 11,000 deaths….

People, this is the real, on the ground, human cost of Trump/Musk’s gutting of USAID, last year. Damn.

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