CELG - Bristol-Myers Squibb And BMS-986036 In NASH: An Update
Market Assessment
Bristol-Myers Squibb (BMY), a large cap ($79B) commercial stage biopharma, started the new year with a belated Christmas gift to shareholders. It announced the acquisition of Celgene (CELG) for $50/share in cash plus one BMY common share for each CELG share, valued at $74B. Initially, some Institutional and retail shareholders were not pleased with proposed merger. Notwithstanding, shareholders from BMY and Celgene ultimately approved the merger in Q2 2019. The planned merger is expected to close in Q3 2019, with BMY shareholders owning ~69% of the combined company and