Good morning, everyone, and welcome to the middle of the week. Congratulations on making it this far and remember, there are only a few more days until the weekend arrives. So keep plugging away. After all, what are the alternatives? While you ponder the possibilities, you may also want to speculate on who succeeds Scott Gottlieb at the FDA. Send us your suggestions. Meanwhile, here is the latest menu of tidbits to help you on your way. Have a wonderful day and please do stay in touch …
The Bristol-Myers Squibb (BMY) board sent a letter to shareholders explaining why they should support the proposed $74 billion deal for Celgene (CELG). The board also filed an investor presentation with the Securities and Exchange Commission. The moves come after two large funds, Wellington Management and Starboard Value, last week came out against the deal, placing pressure on Bristol to work harder to convince investors. Starboard responded with its own letter arguing why Bristol shareholders should reject the bid.
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