Deals
Bristol-Myers CEO Says Celgene Purchase Not a ‘Defensive’ Move
- Caforio says earlier talks about other deals didn’t get far
- Investors wonder if Celgene deal was play to ecape a takeover
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Bristol-Myers Squibb Co.’s chief executive officer said that while the drugmaker had talked with other companies about possible deals, none of those conversations got serious enough to lead to an actual offer.
The drugmaker has been trying to tamp down speculation that its $74 billion acquisition of Celgene Corp. was a play to escape a takeover by another large pharmaceutical company, after investors including Bristol-Myers’ No. 2 shareholder raised questions about the deal or sought to block it.