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Rare disease drugmaker Shire Pharmaceuticals Plc (SHP.L) is preparing to announce its roughly $32.5 billion acquisition of U.S. peer Baxalta International Inc (BXLT.N) as early as Monday, according to people familiar with the matter.

The deal would come after Reuters first reported on Dec. 22 that Shire’s latest offer for Baxalta had met the latter’s valuation expectations. It would be one of the healthcare sector’s largest mergers in 2016.

The cash-and-stock deal will value Baxalta at around $48 per share, with a cash component just shy of $20 per share, the people said on Thursday.

Baxalta shares were trading on Thursday just under $39 and Shire stock was at $190.45 a share.

Both parties are confident tax concerns arising from Baxalta’s spin out from Baxter International Inc (BAX.N) will not be an impediment to the transaction but are waiting for a formal legal opinion to come through before signing their merger agreement, the people added.

The sources asked not to be identified because the negotiations are confidential. Shire and Baxalta declined to comment.

The acquisition would mark the culmination of a long pursuit hinged partly on how much cash Shire could offer without triggering additional taxes for Baxalta. Reuters first reported Shire’s renewed effort to court Baxalta in November.

Shire has been eyeing the maker of rare disease drugs since July, when it proposed an all-stock deal for just over $45 per share that was rejected by Baxalta’s board.

Baxalta was initially concerned that accepting a cash offer too soon after being spun off from parent company Baxter could violate rules designed to prevent spinoffs from being used to dodge taxes.

Baxalta develops biotech treatments for rare blood conditions, cancers and immune system disorders. The deal would advance Shire’s strategy of building out a broad platform within the rare diseases space.

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Naspers, the largest listed company in Africa, said it was not worried about Netflix’s arrival in South Africa, adding it believed the market for video on demand was large enough to accommodate more players.

Africa’s most advanced economy, where a rapid expansion of fiber optic broadband in more affluent neighborhoods has allowed streaming of movies and TV series, was one of more than 130 new markets Netflix entered this week.

Naspers launched its own Showmax video-on-demand unit in August that has been airing a mix of international and local content to build a base of subscribers.

“It’s good news that we have another major player in the market who’ll generate additional interest in internet TV,” Naspers’ Showmax spokesman Richard Boorman said on Thursday.

Netflix enters a market where not only Naspers has a foothold, but four other players, including mobile phone operator MTN, has launched video-on-demand services in the past year and a half.

Naspers has not disclosed any detailed figures about the uptake of Showmax, saying only it has been positive.

As a new segment in South Africa a major challenge has been to get consumers to understand what subscription video on demand is and how it works, said Boorman.

Naspers sees the market for on-demand content growing as the cost of smartphones and tablets fall, faster mobile connections become available and South Africa gets more fiber to the home.

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Micro-blogging site Twitter filed a lawsuit in an Ankara court on Thursday, seeking to annul a fine by the Turkish authorities for not removing content Turkey says is “terrorist propaganda”, a source familiar with the case told Reuters.

A Turkish official said much of the material in question was related to the Kurdistan Workers Party (PKK) which Ankara deems as a terrorist organization.

A spokesperson for Twitter confirmed the company has taken legal action over the fine without providing further details.

Ankara has taken a tough stance on social media under President Tayyip Erdogan and the ruling AK Party he founded. It has temporarily banned access to Twitter site several times in the past for failing to comply with requests to remove content.

But the 150,000 lira ($50,000) fine, imposed by the BTK communications technologies authority, was the first of its kind by Turkish authorities on Twitter.

Twitter, in its lawsuit, is arguing that the fine is against the law and should be annulled, the source said.

The content Turkish authorities have asked to be removed includes tweets in relation to the PKK, which is also considered a terrorist organization by the European Union and the United States, a Turkish official said. Some tweets are related to the far-left DHKP-C.

“We have shown 15-20 tweets from several accounts to Twitter as examples. We have imposed the fine because Twitter failed to comply with the court order,” this official said.

Transport Minister Binali Yildirim said on Wednesday that Turkey would not give up on its demand for Twitter to pay the fine.

The government has also introduced legislation making it easier for such bans to be imposed. Turkey is among the top countries with the highest number of content-removal requests to Twitter, data from U.S.-based company shows.

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Deutsche Telekom is facing growing pressure from investors and lawmakers to ensure proper treatment of workers at its American business T-Mobile US.

The German company’s biggest subsidiary has enjoyed two years of rapid expansion in a fiercely competitive U.S. market that has seen it overtake its closest rival Sprint in terms of subscribers.

But it has been accused by its main labor union, the Communications Workers of America (CWA), of flouting employees’ rights and was last year found to have engaged in illegal work practices in two U.S. National Labor Relations Board cases.

T-Mobile, which has about 45,000 employees, says it abides by the law and denies mistreating workers.

Two major investors in Deutsche Telekom have expressed concern to the company about the treatment of T-Mobile employees, according to sources. Lawmakers in Washington and Berlin have, meanwhile, called on the German government – which controls 30 percent of Deutsche Telekom – to put pressure on the company to ensure its U.S. business respects workers’ rights.

Pension fund manager APG Asset Management, which owns 0.15 percent of Deutsche Telekom, told Reuters it had requested an update on T-Mobile’s treatment of workers in light of rulings by the U.S. National Labor Relations Board (NLRB) and the CWA allegations. “Based on this (update), we will consider our position,” it said, without elaborating.

In 2011, APG removed Wal-Mart from its portfolio, citing working conditions and insufficient willingness to allow staff to unionize.

“Human capital management is very important to us,” said APG sustainability specialist Anna Pot. “It is an important indicator of the quality of management.”

Norges Bank Investment Management (NBIM) – Deutsche Telekom’s fourth-biggest shareholder with a 1.6 percent stake – has also expressed concerns to the company about the treatment of U.S. workers, according to two sources familiar with the matter.

NBIM said it had a policy of not commenting on specific investments or companies.

A senior manager at another top-30 Deutsche Telekom shareholder, who declined to be named because his employer does not allow him to discuss individual investments, said it was also concerned about the treatment of U.S. workers, but had not raised the issue with the German company.

Deutsche Telekom declined to comment, saying discussions with its shareholders were confidential.

POLITICAL PRESSURE

Following complaints from the CWA, a judge on the National Labor Relations Board (NLRB) ruled in March that a number of T-Mobile’s national policies were illegal.

The violations included those that prohibited employees from discussing wages with colleagues, speaking to the media about their work environment and seeking help from co-workers to gather evidence in disciplinary proceedings.

T-Mobile is appealing against the rulings on two of the 11 practices judged illegal, but has accepted the decisions on the other nine. At the time, it said the judge’s rulings on the 11 policies were only on “a technical issue in the law”, adding: “There are no allegations that any employee has been impacted by these policies.”

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From the carnitas crisis of early 2015 to the more recent E. Coli outbreak. And now, tough love from Wall Street. Chipotle Mexican Grill Inc’s (CMG.N) shareholders have never had it so bad.

At least six brokerages slashed their price targets on the burrito chain operator’s stock on Thursday, a day after the company said it was served with a grand jury subpoena related to a probe into a norovirus incident at one of its restaurants.

Chipotle’s stock, once a Wall Street darling, has lost a third of its value since the end of October, when an E. Coli outbreak linked to its restaurants was first reported.

The shares were down 1.6 percent at $420.02 on Thursday.

Chipotle’s announcement on Wednesday highlighted deepening problems at the chain, which has been plagued by a spate of food-borne illnesses among other issues since October.

Last year started on a sour note, when the company said it would not serve its popular “carnitas” at some restaurants after it found that a key supplier was not complying with its animal-welfare standards.

BTIG analysts on Thursday cut their price target by $134 to $530 and said the consistent negative news flow was keeping investors on the sidelines.

Analysts at Deutsche Bank, who cut their price target to $400 from $480, said until Chipotle identified the source of the outbreak, fundamentals would continue to remain challenged.

Barclays cut its target to $465 from $540.

“Given the series of negative headlines and outsized media/social attention, we believe the time frame for a complete Chipotle recovery is extended,” Barclays analysts wrote in a note.

Chipotle said on Wednesday it was further reducing its fourth-quarter same-store sales forecast, mainly due to media attention surrounding another norovirus incident at a Boston restaurant in December.

The company said it now expects same-store sales to fall 14.6 percent in the fourth quarter, its first ever decline.

Maxim Group analysts said on Monday it was unlikely that same-stores would become positive until 2017.

Despite all its problems, Wall Street analysts still have a largely positive outlook on the stock. Only two of the 34 analysts covering the stock have a “sell” rating. Thirteen recommend a “buy” or higher rating, while 19 a “neutral” recommendation.

While the median price target has fallen to $495 from $766 in the last 90 days, it is still well above the current stock price.

There were no changes in recommendations on Thursday.

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The doorknob rattled. Two of the men occupying a federal biologist’s office in a stand-off over land rights hopped from their chairs and swung rifles toward the locked door.

There was no knock – the established procedure for gaining entry to the nerve center of the siege mounted by brothers Ammon and Ryan Bundy at this eastern Oregon nature center.

The Bundys’ bodyguard stood in silent alert but heard no voices from the snowy darkness outside.

“Should we approach the door or not?” Ryan asked, creeping toward a window.

Ammon, armed with only a cell phone, remained seated and shook off the tension, saying dryly, “Oh, it’s fun to live this way.”

Since Saturday, the brothers and a small band of supporters have occupied the Malheur National Wildlife Refuge, which they seized to protest the U.S. government’s control of vast tracts of Western land.

On Tuesday, for the first time, they allowed two reporters to join them inside their refuge for a night marked by long discussions and moments of hair-trigger tension.

Earlier, the Bundys had heard from people they trusted that federal law enforcement agents were assembling in Burns, the nearest town, a half hour’s drive away. Federal officials have said they have no plans to approach the refuge.

As the two Reuters reporters arrived just after nightfall, the occupiers were moving into a state of high alert. The group’s head of security, a man known as Booda Bear, had been out of touch since driving off-site hours earlier. Amid efforts to locate him, the Bundys talked at length about what had brought them into this wilderness – and what it would take for them to leave.

They began the occupation after a demonstration in support of two ranchers convicted of setting fires on their land that spread to this reserve. Dwight Hammond and his son Steven were sent back to prison this week after a judge ruled that the sentences they previously served for arson were not long enough under federal law.

For the Bundy brothers, the occupation is personal. Their father, Nevada rancher Cliven Bundy, who was not at the reserve but was offering his sons advice by phone, became a symbol of the anti-government ethos after a stand-off over grazing rights with federal authorities in 2014.

When the brothers heard about the Hammonds’ legal troubles, they felt a need to show support and confront a federal government they believe tramples on local control. But how the occupation will end still isn’t clear.

“When we can say, ‘OK, now we can go home,’ would be when the people of Harney County are secure enough and confident enough that they can continue to manage their own land and their own rights and resources without our aid,” Ryan Bundy said. “And we intend to turn this facility into a facility that will aid that process.”

To underscore his point, he grabbed a piece of paper from the office printer. It featured a new name and logo the group had decided on for the Malheur refuge, which plays host annually to a wide range of migrating waterfowl. In the Bundy-designed logo, the words “Harney County Resource Center” float over an image of the reserve’s horizon in the glow of dusk.

FISH PRINTS, PIZZA AND BULLETS

The brothers have taken over the cozy and cluttered office of Linda Sue Beck, a biologist and civil servant they have come to view as a symbol the federal government. They said they would allow Beck to come to gather her personal belongings. But they don’t want her to return to work.

“She’s not here working for the people,” declared Ryan Bundy, the more outspoken of the brothers. “She’s not benefiting America. She’s part of what’s destroying America.”

He referred to her as the “Carp Lady,” a nod to the fish-themed block prints and “Carpe Carp” sign on her office walls