With Bristol-Myers Squibb Co.’s largest institutional investor revealing that it opposes the $74bn acquisition of Celgene Corp. and a recently engaged activist investor trying to build a strong case against the combination, several analysts nonetheless say the proposed deal – facing an April 12 shareholder vote – still has sufficient momentum to go through.
Celgene/Bristol: Happy Union Or Runaway Bride?
Wellington, the largest institutional shareholder in Bristol, and activist firm Starboard both have publicly opposed the Bristol/Celgene merger but the strong crossover of investors in both biopharmas suggests the deal will still obtain approval.
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