Cel­gene shares jump as Bris­tol-My­ers gains key sup­port from proxy ad­vis­er for loom­ing buy­out vote

Bris­tol-My­ers Squibb $BMY ex­ecs have won a pair of im­por­tant en­dorse­ments for its big Cel­gene buy­out. 

In­sti­tu­tion­al Share­hold­er Ser­vices, a share­hold­er ad­vis­er that holds forth on cor­po­rate gov­er­nance mat­ters, has come out in fa­vor of the $74 bil­lion ac­qui­si­tion, say­ing “the pro­posed trans­ac­tion has sound strate­gic ra­tio­nale and the val­u­a­tion ap­pears rea­son­able.” And they were joined by Glass Lewis.

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