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Bristol-Myers Squibb's $74 billion acquisition of Celgene would combine two troubled companies

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Heavy debt, faltering in 2018, and cracks in the deal: Bristol-Myers Squibb's $74 billion acquisition of Celgene combines 2 troubled companies.

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 /  🏆 12. in ZA
 

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That's like merging Deutsche Bank and Commerzbank. Guess 1-(-1) = 2

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Bristol-Myers takes $74 bln bet against the marketThere are good reasons to buy rival oncology giant Celgene. But cost cuts don’t cover the 54 pct premium and the target’s owners get the financial benefit. Bristol is hoping for luck in the courts and multiple regulatory approvals that Celgene’s shareholders were skeptical of.
Source: Breakingviews - 🏆 470. / 51 Read more »