BMS shareholders approve Celgene megadeal

Apr 12, 2019

Bristol-Myers Squibb shareholders approved the company’s $74 billion acquisition of rival Celgene, despite activist campaigns to break up the deal.

The deal, first announced Jan. 3, passed with more than 75 percent of shareholders voting in favor of it. The deal is expected to be completed in the third quarter this year.

Back in February, activist investor Starboard Value, unhappy with BMS' deal, moved to install its own set of directors at Bristol-Myers. A handful of other shareholders also expressed displeasure, including the fifth-largest shareholder, Dodge & Cox.

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