Anurag Rana, Bloomberg Intelligence Senior Software Analyst, and Olivia Carville, Bloomberg News Technology Reporter, discuss IBM closing its $34 billion purchase of Red Hat, sealing the world’s second-largest technology deal ever and setting up the iconic U.S. company on a path to try to compete with top software purveyors in the cloud. Heather Perlberg, Bloomberg News Private Equity Reporter, breaks news on Carlyle planning to announce that the private equity firm will convert to a corporation when it reports second-quarter earnings. Doug Phillips, CIO at University of Rochester, explains why inflation is bad for endowments, he is joined by Bloomberg News Endowments Reporter Janet Lorin. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Mexico Reporter Andrea Navarro talk about the $7.4 billion tourist train threatening rainforests in Latin America. And we Drive to the Close with JJ Kinahan, Chief Market Strategist at TD Ameritrade. Hosts: Carol Massar and Jason Kelly. Producer: Paul Brennan