Investor opposition to Bristol-Myers' $74B Celgene buyout grows as activist Starboard joins the rebellion
Bristol-Myers Squibb and Celgene have a big problem on their hands.
After the market closed Wednesday, Bristol-Myers’ largest investor, Wellington Management, moved to voice its opposition to the company’s $74 billion mega-merger with Celgene. Some analysts — though not all — immediately flagged the move as a real threat to the deal, raising the risk that a major move like this could stir a widespread rebellion among shareholders.
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