Starboard Value Urges All Shareholders To Reject Bristol-Myers - Celgene Merger

(RTTNews) - Starboard Value LP, a stockholder of Bristol-Myers Squibb Co. (BMY), said Tuesday it has issued an investor presentation opposing Bristol-Myers' proposed merger with Celgene Corp. (CELG), which it believes is ill-advised and not in the best interests of Bristol-Myers shareholders. It urges all shareholders to reject the proposed transaction.

New York-based investment adviser Starboard also announced that it has mailed definitive proxy materials and a BLUE proxy card for shareholders to vote against the proposed transaction at the upcoming special meeting of shareholders scheduled to take place on April 12, 2019.

In January 2019, Bristol-Myers Squibb said it would acquire Celgene in a cash and stock transaction with an equity value of approximately $74 billion.