Home>Highlight>Celegene sale faces some opposition

Anti-Hugin protesters at Celgene's corporate headquarters in Summit on January 24, 2018

Celegene sale faces some opposition

Bob Hugin’s old company offered $74 billion

By David Wildstein, March 01 2019 8:58 am

A major Bristol-Myers shareholder is opposing the bid to buy Celgene, the New Jersey pharmaceutical company that was run by ex-U.S. Senate Bob Hugin, the Wall Street Journal has reported.

An investment firm that has an 8% stake in Bristol-Myers believes the proposed $74 billion deal exposes the company to considerable risk and offers Bristol-Myers stock too cheaply to shareholders like Hugin.

But Wellington management only controls voting power for about one-quarter of their stock, which could make their opposition less formidable.

The Wall Street Journal has previously reported that two other big investors are also unhappy with the deal.

Spread the news:
RELATED ARTICLES
Filter by
Post Page
Congress Articles
Sort by

Celegene settles another lawsuit

NJ drugmaker has now spent $117 million settling cases in 8 days
July 31, 2019 6:28 pm

10

Pezzullo backs Hugin

February 13, 2018 12:26 pm

8

Hugin set to announce on Tuesday

February 11, 2018 7:50 pm

8

Leave a Reply

Your email address will not be published. Required fields are marked *