Bristol-Myers Wins Investor Support For $74B Celgene Buy

Law360 (April 12, 2019, 3:23 PM EDT) -- Bristol-Myers Squibb shareholders on Friday voted in favor of the pharmaceutical company’s planned $74 billion acquisition of Celgene, overcoming pushback on the deal from an activist hedge fund and an institutional investor.

An early tally of shareholder votes shows that 75 percent of the Bristol-Myers Squibb Co. shares voted at the Friday special meeting were cast in favor of acquiring Celgene Corp. About 24 percent of votes were cast against the deal, and roughly 1 percent of votes cast were abstentions.

A handful of Bristol-Myers shareholders spoke during the meeting, which was webcast, with one longtime investor cautioning Bristol-Myers Chairman and...

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