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.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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 ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

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 ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

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 ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

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 ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »