logo
Plus   Neg
Share
Email

Starboard Value Urges All Shareholders To Reject Bristol-Myers - Celgene Merger

Starboard Value LP, a stockholder of Bristol-Myers Squibb Co. (BMY), said Tuesday it has issued an investor presentation opposing Bristol-Myers' proposed merger with Celgene Corp. (CELG), which it believes is ill-advised and not in the best interests of Bristol-Myers shareholders. It urges all shareholders to reject the proposed transaction.

New York-based investment adviser Starboard also announced that it has mailed definitive proxy materials and a BLUE proxy card for shareholders to vote against the proposed transaction at the upcoming special meeting of shareholders scheduled to take place on April 12, 2019.

In January 2019, Bristol-Myers Squibb said it would acquire Celgene in a cash and stock transaction with an equity value of approximately $74 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion. While reporting financial results for the first quarter on Friday, Deere & Co. (DE) slashed its earnings and revenue growth guidance for the full-year 2019. The company said the lower forecast is partly a result of actions taken by it to prudently manage field inventories, which will cause production... European Union regulators on Thursday fined five global banks a total of 1.07 billion euros, or $1.2 billion, for participating in foreign exchange spot trading cartels and manipulating the foreign-exchange currency market. The five banks are Barclays, Royal Bank of Scotland, Citigroup, JPMorgan Chase and Japan's MUFG Bank, formerly known as Bank of Tokyo-Mitsubishi.
Follow RTT