Bris­tol-My­ers share­hold­ers back the big Cel­gene buy­out. What hap­pens now?

Even though its lead in­vestor sided with the ac­tivists in op­pos­ing the move, the share­hold­ers at Bris­tol-My­ers Squibb have pro­vid­ed a lop­sided vote in fa­vor of the $74 bil­lion takeover of Cel­gene — which is what every­one has ex­pect­ed now for days.

About 75% of Bris­tol-My­ers’ shares were cast in fa­vor of the deal. Over at Cel­gene, where long-suf­fer­ing in­vestors were wait­ing in an­tic­i­pa­tion, the vote was 98% in fa­vor. Aside from a pos­si­ble catch at the FTC that shouldn’t prove too tough, the vote paves the way for the first ma­jor league megamerg­er in years, leav­ing the com­bined op­er­a­tion as one of the biggest over­all in the in­dus­try.

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