Despite concerns from two key BMS shareholders, the merger will proceed.
Major Bristol-Myers Squibb (BMS) shareholders Starboard Value and Wellington Management have expressed concern that the acquisition of Celgene by BMS is too risky. Others have suggested the $74 billion price is too high for a company with a portfolio of drug candidates with uncertain prospects.
In spite of this, however, three-quarters of BMS shareholders voted to proceed (https://healthcareweekly.com/bristol-myers-squibb-celgene-merger/) with the deal anyway. It is expected to close in Q3 of 2019, assuming all customary closing conditions and regulatory approvals are met.
