BMS M&A Q&A: Is IO Player Now In Play? Lung Cancer Moves Seen As Key

Will activist investors succeed in unlocking Bristol-Myers Squibb's shareholder value - or instead orchestrate a takeover worth more than $100bn?

Chess game

Developments in the lung cancer market over the next 12 months will be crucial to the future of beleaguered Bristol-Myers Squibb Co. and help investors determine whether shareholder value – and thus satisfaction with its management – can be unlocked, or whether activists, which include Carl Icahn and JANA Partners, will instead push for quicker profits via a rival takeover of the company worth more than $100bn.

That's the current view of many analysts and investors who are trying to make sense of BMS' situation following months of uncertainty, a sagging share price following PD-1 inhibitor Opdivo's...

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