Celgene Gets A Big Bid

Bristol-Myers Squibb (BMY) agreed to acquire Celgene (CELG) in a stock and cash deal valuing the later at a 51% premium from their closing price. So much to like with a deal that has an EPS accretion of 40% in the first year.

The transaction is about 50% cash and 50% stock with a unique CVR worth up to $9 based on the 3 potential blockbuster drugs getting FDA approvals.

Bristol-Myers should be up on this news, not down 10%.

Disclosure: Long CELG. Please review the disclaimer page for more details. 


Comments

Popular posts from this blog

Camping World: Momentum Stinks

Snap Q4'18 Earnings - Live Updates