Buyout buzz swells for the giant Bristol-Myers after Carl Icahn makes an entrance, stage left
Carl Icahn, the aging activist who’s prodded a series of high-profile biopharma companies into the arms of eager buyers, has taken a stake in the highly stressed Bristol-Myers Squibb, building speculation that the troubled giant could be in line for a buyout — as improbable as that may sound to many.
Bristol-Myers started the day by announcing that it added three new directors and struck a $2 billion stock buyback deal in a pact with Jana Partners, another activist which has been spurring Bristol-Myers to take action to get out of the rut it’s found itself in.
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