UPDATE 1-Bristol-Myers says Starboard nominated five directors, bought shares [Reuters]
Bristol-Myers Squibb Company (BMY)
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Source: Reuters
UPDATE 1-Bristol-Myers says Starboard nominated five directors, bought shares | Reuters 3 Min Read (Adds details on nomination, background on deal, stock action) By Svea Herbst-Bayliss and Greg Roumeliotis Feb 20 (Reuters) - Bristol-Myers Squibb Co said on Wednesday that activist hedge fund Starboard Value LP intends to nominate five directors to the U.S. drugmaker’s board, one month after it announced a $74 billion deal to acquire peer Celgene Corp. Reuters reported last week that Starboard was working with a proxy solicitor to gauge the level of support among Bristol-Myers shareholders for the Celgene deal. If it finds enough discontent, Starboard could agitate against it. Bristol-Myers said Starboard informed the company it had bought roughly one million of its common shares. That is equivalent to a roughly $50 million stake, a small sliver of the company’s $84 billion market capitalization. Starboard has submitted regulatory filings that would allow it to acquire additional stock.
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- 4/25/24 - Miss
BMY
Sec Filings
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- 4/25/24 - Form 10-Q
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