BMS gains shareholder backing for Celgene merger

BMS gains shareholder backing for Celgene merger
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Bristol-Myers Squibb’s proposed $74 billion acquisition of Celgene took a major leap forward after gaining the approval of its shareholders.

At a Special Meeting of Stockholders, BMS’ shareholders voted to approve the issuance of shares of common stock in connection with its Celgene merger.

“We are pleased with the outcome of today’s Special Meeting and thank our shareholders for their support for this combination,” said Giovanni Caforio, Chairman and CEO of BMS.

“Together with Celgene, we will create a premier innovative biopharma company with leading scientific capabilities that is well positioned to address the needs of patients through high-value innovative medicines.”

More than 75% of the shares voted at the Special Meeting were voted in favour of the Celgene merger agreement.

BMS will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.

The transaction remains on track to close in the third quarter of 2019, subject to the satisfaction of customary closing conditions and regulatory approvals.