Bristol-Myers Squibb Co's top shareholder Wellington Management said on Wed...
- Bristol-Myers Squibb Co’s top shareholder Wellington Management said on Wednesday that it does not support the U.S. drugmaker’s $74 billion purchase of biotech Celgene Corp, imperiling what would be the largest pharmaceutical company takeover of all time.
Celgene shares fell 8.5 percent after the Wellington statement was released, while Bristol-Myers shares rose 3 percent. In addition to its concerns about the price, the Wellington statement said successful execution of the deal could be more difficult to achieve than depicted by company management.
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