Deals
Matchmaker Seeks Drug Company: Must Have Pipeline, $85 Billion
- The list of potential buyers for Bristol-Myers is short
- Bristol-Myers says it’s confident deal for Celgene will close
Photographer: Tim Thompson/Bradel Images
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As investor discontent simmers over Bristol-Myers Squibb Co.’s $74 billion takeover of Celgene Corp., the possibility of a surprise buyer swooping in with an offer for Bristol-Myers has lingered as a way of breaking up the transaction.
Speculation about an interloper increased this week after Wellington Management Co., one of Bristol-Myers’s top shareholders, said Wednesday it opposed the deal. On Thursday, activist investor Starboard Value said it will vote against the merger, and issued an open letter calling for the drugmaker to either stay independent -- or find a buyer.