Published On: Fri, Nov 22nd, 2019

Bristol-Myers Squibb wraps up $74bn acquisition of Celgene

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Bristol-Myers Squibb has wrapped up its $74 billion acquisition of having got regulatory approval from all government authorities necessary for closing the merger agreement along with approvals from stockholders of the two companies.

Celgene has now become a fully-owned subsidiary of Bristol-Myers Squibb and as per the merger terms, shareholders of the former have exchanged each of their shares with 1.00 share of Bristol-Myers Squibb common stock plus $50.00 in cash without interest and a tradeable Contingent Value Right (CVR), which will entitle the holder to get payment of $9.00 in cash if certain future regulatory milestones are met.

Celgene common stock has stopped trading following the close of the deal.

Bristol-Myers Squibb acquires Celgene

Bristol-Myers Squibb acquires Celgene. Photo courtesy of Sue Adair/Wikimedia Commons.

– Chairman and CEO of Bristol-Myers Squibb, commenting on Bristol-Myers Squibb acquisition of Celgene, said: “This is an exciting day for Bristol-Myers Squibb as we bring together the leading science, innovative medicines and incredible talent of Bristol-Myers Squibb and Celgene to create a leading biopharma company.

“With our leading franchises in oncology, , immunology and cardiovascular , and one of the most diverse and promising pipelines in the industry, I know we will deliver on our vision of transforming ’ lives through science. I am excited about the opportunities for our current employees and the new colleagues that we welcome to the Company as we work together to deliver innovative medicines to patients.”

Bristol-Myers Squibb said that the sale of Otezla (apremilast) to Amgen for $13.4 billion is expected to be promptly closed.

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