Starboard Value filed a 197-page presentation on March 19 outlining its objections to Bristol-Myers Squibb’s $74 billion agreed deal to buy Celgene. The activist investor says the acquisition could destroy shareholder value because of the risk of patents expiring on Celgene’s marketed drugs, and overly optimistic assumptions about as-yet unapproved medicines.
It says Bristol-Myers could cut costs to become more efficient, and should continue with its past strategy of acquiring smaller firms.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »