Bristol Myers pledges to sell its Acceleron shares as activist investors circle Merck's $11.5B buyout — report
Just as Avoro Capital’s campaign to derail Merck’s proposed $11.5 billion buyout of Acceleron gains steam, Bristol Myers Squibb is leaning in with some hefty counterweight.
The pharma giant is planning to tender its Acceleron shares, Bloomberg reported, which add up to a sizable 11.5% stake. Based on the offer price, the sale would net Bristol Myers around $1.3 billion.
To complete its deal, Merck needs a majority of shareholders to agree to sell their shares.
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