Good morning from the Financial Times.
Today is Monday, August 3rd, and this is your FT News Briefing.
We have the scoop on mega merger talks in the pharmaceutical industry,
and new analysis breaks down the cost of wildfires ravaging Europe.
Plus, Spain's migrant crisis is reopening deep divisions in the EU.
I think some governments will use this to push some of their more hardline policies.
I'm Victoria Craig, and here's the news you need to start your day.
AstraZeneca and Bristol-Myers Squibb have held talks to create the world's fourth biggest pharmaceutical company.
A tie-up would forge a $400 billion
giant in the industry and would help expand AstraZeneca's footprint in the United States.
Aaron Kirchfeld is part of the team that broke that story for the FT.
He joins me now.
Hi, Aaron.
Hi there.
So how advanced are these discussions?
What do we know about this so far?
So according to our sources, these talks have been going on for some time.
And like all deals, it's always hard to predict whether they'll reach a deal or not.
But it sounds like if things go smoothly, according to our sources,
that we could see something materialize in the near term.