Celgene, Bristol-Myers expect to close deal in Q3

In January, Celgene (CELG) and Bristol-Myers Squibb (BMY) announced that they have entered into a definitive merger agreement under which Bristol-Myers will acquire Celgene for approximately $74B. Under the terms of the agreement, Celgene shareholders will receive for each Celgene share $50 plus one Bristol-Myers share and one tradeable Contingent Value Right, which will entitle the holder to receive a cash payment of $9.00 upon the achievement of FDA approval of all three products within specified time periods. The transaction is subject to approval by Bristol-Myers and Celgene stockholders and the completion of customary closing conditions and regulatory approvals. Bristol-Myers and Celgene expect to close the transaction in Q3 of 2019.
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