Hints and tips:
...than rivals such as JPMorgan and Bank of America, it has tapped its relationship with Japan’s Mitsubishi UFJ to finance huge loans before, including $33.5bn for Bristol-Myers Squibb’s takeover of rival Celgene...
...He returns to the role after stints working with Celgene Corporation and Juul Labs. Law firm Ashurst has hired Hilary Goodier as a partner....
...Amgen agreed to buy Celgene’s Otezla, a treatment for psoriasis and Behçet’s disease, for $13.4bn on Monday, allowing Bristol-Myers Squibb to push ahead with its mammoth $90bn takeover of Celgene....
...Bristol and Celgene both ranked among the top corporate fee payers to investment banks last year, forking over more than $500m to their advisers, including Morgan Stanley and JPMorgan Chase....
...While those takeovers do not generate the same fanfare as marquee transactions such as Bristol-Myers Squibb’s $93.4bn takeover of rival drugmaker Celgene, they are critical fee generators for advisers....
...The $90bn acquisition of Celgene is one of the largest pharmaceutical deals in history, as BMS aims to create a world leader in oncology....
...Wellington Management last year publicly opposed Bristol-Myers Squibb’s acquisition of Celgene in an unusual move that had a lot of companies calling up their lawyers....
...Wellington Management also had said it would vote against the Celgene acquisition....
...The bank nonetheless enjoyed a blockbuster payday for its work advising Bristol-Myers Squibb on its takeover of Celgene, a deal that generated Morgan Stanley an $82m advisory fee JPMorgan Chase reported...
...Big Pharma looks to biotechs The biggest deal of the year (so far) came right at the start, with Bristol-Myers Squibb paying $93bn for Celgene....
...Wellington characterised the purchase of Celgene as risky and warned that BMS was overpaying for the acquisition....
...A point of concern for some investors and analysts is Celgene’s high dependence on just one cancer treatment....
...Some analysts expect the Celgene deal to push other large pharmaceutical companies to hunt for more acquisitions to bolster their cancer drug pipelines....
...The takeover of Celgene, announced in early January, would be one of the biggest pharmaceuticals deals of all time....
...BMS has defended its deal to buy Celgene....
...Goldman Sachs banker and game enthusiast, last week snared his biggest target since striking out on his own in 2016: advising US drugmaker Bristol-Myers Squibb on its $90bn takeover of biotech company Celgene...
...BMS’s strength is in solid tumours while Celgene is focused on drugs to treat blood cancers....
...Citigroup will be paid $67m for its work advising Celgene....
...When Wellington last week rebuffed the deal in a statement, it did not disclose that it had sold its shares in Celgene....
...Shares in Bristol-Myers Squibb fell 14 per cent to $44.53, while Celgene advanced 22 per cent to $81.28....
...Earlier this year they advised Celgene on its $90bn sale to Bristol-Myers Squibb. Who needs time to relax when these fees are at stake?...
...Wellington Management earlier this year sought to block Bristol-Myers Squibb’s $90bn takeover of rival Celgene, but ultimately lost its fight....
...The reasons for this contrasting trend is that dealmaking in the sector has been dominated by large transactions, including Bristol-Myers Squibb’s $90bn acquisition of Celgene, the $21bn sale of General...
...A DD scoop to start: Rupert Murdoch’s News Corp, Germany’s Axel Springer and the world’s largest rating agencies are among the list of companies set to enter a bidding war for Acuris, the owner of Mergermarket...
...Last week he snared his biggest target since starting his namesake firm: advising US drugmaker Bristol-Myers Squibb on its $90bn takeover of biotech company Celgene....
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