Espírito Santo Saúde: The bidding war

This case study describes the current situation of Espírito Santo Saúde, which involved an eventful takeover process. The company initially went public on February 2014 and later that year, due to the financial situation of its holdings it had to be sold. The bidding war began in August 2014, after Ángeles announced the first offer. Other participants who also pitched bids include José de Mello Saúde, UnitedHealth and Fosun. Furthermore, the potential projects Espírito Santo Saúde was considering implementing prior to the sale and the current situation of the healthcare industry in Portugal, will also be analysed.

An outbreak of Portuguese man-of-war (Physalia physalis - Linnaeus, 1758) envenoming in Southeastern Brazil

Introduction Portuguese man-of-war, Physalia physalis (Linnaeus, 1758), are cnidarians capable of discharging intracellular organelles filled with venom, resulting in severe envenomation in humans. Methods We report the clinical and therapeutic aspects of 331 accidents involving Portuguese man-of-war in an outbreak on the coast of the State of São Paulo, Brazil. Results The clinical manifestations of envenomation were rare and mild and mostly local, systemic reactions; there was a low rate of late complications. Conclusions The consequences of envenomation were of moderate severity, and first aid measures were effective in controlling the pain. Outbreaks of accidents involving Portuguese man-of-war occur periodically in the area without a clear explanation.

Ocorrência de Cistos de CLINOSTOMUM MARGINATUM Rudolphi, 1819 "Yellow Spot Disease" em Filé de Jaraqui (SEMAPROCHILODUS INSIGNIS Schomburgk, 1814)

The parasitic inspection of 745 jaraqui fillets (Semaprochilodus insignis Schomburgk, 1814) from the rio Negro, Manaus (AM) - Brazil, show a low prevalence of metacercaria cysts of Clinostomum marginatum Rudolphi, 1819. From the collected samples since 1981 to 1983, only showed the cysts.

Duas novas espécies de Belostoma Latreille, 1807 (Hemiptera: Heteroptera: Belostomatidae) do grupo plebejum sensu Nieser, 1975

Representantes do grupo plebejum são encontrados de Honduras até o sul da América do Sul e compreendem sete espécies de pequeno porte. Como resultado de um estudo de revisão do grupo, são descritas duas espécies novas: Belostoma estevezae Ribeiro & Alecrim, sp. nov., do Estado do Mato Grosso, Brasil, similar a B. nicaeum Estévez & Polhemus, 2007, em termos de carena prosternal, e B. nessimiani Ribeiro & Alecrim, sp. nov., do Estado do Amazonas, Brasil, sendo bastante similar a B. parvum Estévez & Polhemus, 2007, em termos de genitália masculina. Uma chave de identificação para as espécies do grupo plebejum com as espécies novas incluídas é fornecida.

Taxonomic redescription of the Portuguese man-of-war, Physalia physalis (Cnidaria, Hydrozoa, Siphonophorae, Cystonectae) from Brazil

Although Physalia physalis (Linnaeus, 1758) is widely known from the Brazilian waters, specimens from this coast were never properly described. We describe Brazilian specimens of P. physalis including information on morphology, cnidome, SEM, and histological studies. Taxonomical issues concerning the development of the colonies and eventual synonymy with Physalia utriculus (La Martinière, 1787) are also added.

Optimism and commitment: An elementary theory of bargaining and war

We propose an elementary theory of wars fought by fully rational contenders. Two parties play a Markov game that combines stages of bargaining with stages where one side has the ability to impose surrender on the other. Under uncertainty and incomplete information, in the unique equilibrium of the game, long confrontations occur: war arises when reality disappoints initial (rational) optimism, and it persist longer when both agents are optimists but reality proves both wrong. Bargaining proposals that are rejected initially might eventually be accepted after several periods of confrontation. We provide an explicit computation of the equilibrium, evaluating the probability of war, and its expected losses as a function of i) the costs of confrontation, ii) the asymmetry of the split imposed under surrender, and iii) the strengths of contenders at attack and defense. Changes in these parameters display non-monotonic effects.

The Crocidura fuliginosa species complex (Mammalia, Insectivora) in Peninsular Malaya: biological, karyological and genetical evidence

Four West Malaysian shrew populations of the genus Crocidura were investigated through their karyotype and allozyme variations, and, in part, by interfertility experiments. Two different karyotypes characterize these shrews. The first, restricted to the Cameron Highlands (Peninsular Malaysia), invariably has 2n = 40 chromosomes but a varying fundamental number (FN = 54-58). The second karyotype shows a fundamental number of 62-68 and a polymorphic chromosomal number of 2n = 38, 39 or 40, a rare event in the genus Crocidura. Thus both can be distinguished by either a low or a higher number of meta- and submetacentric elements. In heterospecific breeding experiments, mutual avoidance was observed suggesting prezygotic barriers, whereas intraspecific pairs produced 13 liters (mean 2.1 young). Furthermore, our biochemical results indicate that both karyotypes correspond to a relatively ancient separation (Nei's D = 0.354), an amount of genetic differentiation comparable to the distance separating them from the West Palearctic C. russula (D = 0.429-0.583). In contrast, conspecific island and mainland Malaysian shrews possessing the second karyotype had only one fixed allelic difference over the 35 loci surveyed. The problem of naming the two biological species remains unsolved and requires further comparative investigations.

Civil war and foreign influence

We study a symmetric information bargaining model of civil war where a third (foreign) party can affect the probabilities of winning the conflict and the size of the post conflict spoils. We show that the possible alliance with a third party makes peaceful agreements difficult to reach and might lead to new commitment problems that trigger war. Also, we argue that the foreign party is likely to induce persistent informational asymmetries which might explain long lasting civil wars. We explore both political and economic incentives for a third party to intervene. The explicit consideration of political incentives leads to two predictions that allow for identifying the influence of foreign intervention on civil war incidence. Both predictions are confirmed for the case of the U.S. as a potential intervening nation: (i) civil wars around the world are more likely under Republican governments and (ii) the probability of civil wars decreases with U.S. presidential approval rates.