Celgene slumps as Bristol-Myers shareholder resists merger

REUTERS: Shares of Celgene Corp dived 8 percent on Thursday after a major shareholder in Bristol-Myers Squibb Co came out against a US$74 billion merger that would be the pharmaceutical world's biggest ever takeover.

In the letter to employees, Bristol-Myers reiterated that the Celgene deal is the best path forward for the company and that it continued to believe strongly in the merits of the deal.Bristol-Myers investors are due to vote on the deal at a special meeting scheduled for April 12. "Even with the combined voting power for both Wellington and Starboard Value, we believe there continues to be a high hurdle for opposition to reach majority," said Andy Hsieh, a William Blair analyst.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

For Sainsbury and Asda, watchdog's analysis leaves merger in serious doubtSainsbury's planned 7.3 billion pound (US$9.5 billion) takeover of Walmart's Asda can only be salvaged if Britain's competition regulator ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

US Justice Department will not appeal AT&T, Time Warner merger after court lossWASHINGTON: AT&T Inc emerged victorious on Tuesday over the Trump administration's drawn-out attempts to block its US$85.4 billion purchase of ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

Investor Cerberus open to Deutsche Bank merger with Commerzbank: SourceU.S. investor Cerberus is open to a merger between Germany's two largest private banks, Deutsche Bank and Commerzbank, a person familiar with the ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

Barrick bids US$18 billion for Newmont in gold mega-mergerCanadian miner Barrick Gold Corp said on Monday it had offered to buy U.S. rival Newmont Mining Corp in an all-stock deal that would create a ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »