Pharmaceutical giant Bristol-Myers Squibb to buy Celgene in 74 bln USD deal

Source: Xinhua | 2019-01-04

Global pharmaceutical giant Bristol-Myers Squibb has agreed to acquire biotech firm Celgene Corp. in a deal worth 74 billion U.S. dollars, the company announced on Thursday.
The combined company will have nine products with more than 1 billion dollars in annual sales, foreseeing significant potential for growth in oncology, immunology, and inflammation and cardiovascular disease.
Celgene shareholders will get one Bristol-Myers Squibb share and 50 dollars in cash for each share held, or 102.43 dollars per share, a premium of 53.7 percent to Celgene shareholders based on Wednesday closing.
Bristol-Myers Squibb shares fell 14 percent to 44.75 dollars in early U.S. trading, while Celgene shares rose 32 percent to 87.40 dollars.