After gaining key support for Celgene buyout, Bristol-Myers CEO Caforio emerges as likely winner in looming shareholder vote
It’s likely all over but for the shareholder vote and regulatory approvals now.
After Bristol-Myers Squibb’s largest shareholder startled Wall Street with its outright opposition to the big Celgene buyout, the activists at Starboard Value helped make it interesting with their own intense — but short-lived — campaign to squelch the deal.
On Friday, though, the flag carrier for all the doubters among the shareholders toppled their standard and walked away, dropping their proxy fight after 2 key advisory firms — ISS and Glass Lewis — came out in support of the M&A deal.
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