1. Does Bristol-Myers Have a Plan B if Activists Scuttle its Celgene Buy?

    Does Bristol-Myers Have a Plan B if Activists Scuttle its Celgene Buy?

    What’s Bristol-Myers Squibb’s Plan B if its Celgene deal falls through? BMS won’t say whether it has one at all. And the company may be more likely to need a backup plan than some industry-watchers think. As Wolfe Research’s Tim Anderson pointed out in a note to clients, the company has so far skirted questions about how it would proceed without the $74 billion takeout, saying only that “their focus is on getting the Celgene deal done.” “They gave no insights on the path forward under this alternative scenario,” Anderson wrote, noting that if the deal ...

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    1. They gave no insights on the path forward under this alternative scenario.
    2. Anderson and his colleagues are hearing from other investors that
    3. Wellington, even combined with similarly positioned funds, lacks the votes to sway the deal outcome.
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