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As the Celgene (CELG) acquisition heads towards closure, investors need to position themselves for owning shares in the new Bristol-Myers Squibb (BMY). The cash and stock transaction positions the long-term value of the merger in owning BMY stock, requiring investors to have a plan for timing a move out of some more short-term gains in CELG.
Image Source: Celgene website
Key Points
The deal has several key points. First, Celgene shareholders will get nearly 50% of the deal in cash. Second, Celgene shareholders get a tradable continent value right or CVR