Starboard Urges All Holders To Vote Against Bristol-Myers - Celgene Merger

(RTTNews) - Starboard Value said it reiterated its belief that Bristol-Myers Squibb Co.'s (BMY) proposed merger with Celgene is Ill-Advised and Not in the Best Interests of Bristol-Myers Stockholders. Starboard urged All Holders to Vote AGAINST the proposed merger.

Starboard Value LP, a stockholder of Bristol-Myers Squibb, said that it has mailed a letter to Bristol-Myers stockholders with an important message for stockholders to consider before voting on Bristol-Myers' proposed acquisition of Celgene in connection with the Company's Special Meeting of Stockholders scheduled to take place on April 12, 2019.

Starboard said it has filed its preliminary proxy materials, including a BLUE proxy card, and expects to mail its proxy materials to stockholders in mid-March. Starboard notes, however, that any Bristol-Myers stockholders who may want to vote sooner can vote AGAINST the proposed acquisition on the proxy card being mailed by Bristol-Myers.

Starboard said it is not alone in its decisive position against this ill-advised Merger. Just last week, one of Bristol-Myers' largest institutional common stockholders also came out publicly to oppose the transaction.

Earlier today, Bristol-Myers Squibb Co. (BMY) said it is confident that acquiring Celgene Corp. (CELG) is the best path forward for Bristol-Myers shareholders. The transaction will deliver sustainable growth and compelling value. The combined company is expected to create more value for shareholders and patients compared to standalone Bristol-Myers Squibb over the short-, medium- and long-term.

Bristol-Myers Board unanimously recommends that shareholders vote their shares "FOR" the proposed transaction with Celgene.