Bris­tol My­ers gets nec­es­sary clear­ance for $4.1B Turn­ing Point ac­qui­si­tion

Af­ter a brief de­lay, Bris­tol My­ers Squibb is fi­nal­ly about to close on its $4.1 bil­lion Turn­ing Point ac­qui­si­tion.

BMS an­nounced on Tues­day that it has re­ceived merg­er con­trol clear­ance from the Fed­er­al Car­tel Of­fice of Ger­many, and ex­pects to close on the deal to­mor­row. The phar­ma gi­ant struck a deal ear­li­er this sum­mer to snatch up all out­stand­ing Turn­ing Point shares for $76 apiece, or a to­tal of $4.1 bil­lion. Turn­ing Point’s stock $TP­TX more than dou­bled on the news back in June, and has re­mained prac­ti­cal­ly lev­el since.

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