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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Ryan Gould, Bloomberg Deals Reporter, discusses Marvell Technology agreeing to buy Lumentum at an enterprise value of $115 billion in an all-stock transaction. The merger is expected to be completed in the first half of 2028 and will give Marvell shareholders 67% of the combined business. The deal sparked concerns from investors, who sent shares of both companies sliding, due to the risks of embarking on a massive AI deal at a time when the market is jittery about the industry.

-Matthew Schettenhelm, Bloomberg Intelligence Media Litigation Analyst, discusses Anthropic’s legal risks. According to Bloomberg Intelligence: With US law unsettled on AI oversight, Anthropic faces significant legal risk and enormous potential litigation exposure. Just as President Donald Trump's Commerce Department imposed export controls to halt the AI giant's Fable 5 and Mythos 5 models in June, Anthropic's AI models could similarly be blocked going forward under a legal framework with few clear timelines, precedents or standards.

-Jody Lurie, Bloomberg Intelligence Credit Analyst, discusses Marriott International earnings. Marriott International Inc. reported third-quarter earnings that beat expectations, as bookings surged across the company’s US hotels. The company recorded adjusted earnings per share of $3.02, according to a statement Monday. That was higher than the average analyst estimate of $2.85 in data compiled by Bloomberg.

-Roy Strom, Bloomberg Law Correspondent, discusses how a war is brewing in the corporate restructuring world as firms fight to secure talented lawyers specializing in out-of-court debt workouts. Weil Gotshal & Manges is shuttering its operations, putting its top bench of talent within rivals' reach, and intensifying the battle for specialized attorneys. Firms are positioning themselves for an expected economic downturn that will push companies to restructure outside bankruptcy court, with a strong restructuring practice seen as a way to insulate firms from loss of other types of work.