1. Bristol-Myers Squibb has $2.2 Billion at Stake if its Deal to Acquire Celgene Falls Apart, and Opposition is Mounting

    Bristol-Myers Squibb has $2.2 Billion at Stake if its Deal to Acquire Celgene Falls Apart, and Opposition is Mounting
    • Opposition to pharmaceutical company Bristol-Myers Squibb's $74 billion acquisition of Celgene is growing.

    • The deal is facing pushback from Bristol-Myers' second-largest shareholder, the investment firm Wellington Management, as well as from activist investor Starboard Value.

    • If Bristol-Myers shareholders oppose the deal at an April meeting, the pharma giant may owe Celgene $2.2 billion and other fees...

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    1. While Wellington agrees that Bristol-Myers should be active in business development that secures differentiated science and broadens the future revenue base, Wellington does not believe that the Celgene transaction is an attractive path towards accomplishing this goal.
    2. We believe that we are acquiring Celgene at an attractive price, and that this transaction presents an important and unique opportunity to create sustainable value.
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