Bristol-Myers shareholder opposition adds risk to Celgene deal, says Baird

Bristol-Myers shareholder opposition adds risk to Celgene deal, says Baird. Baird analyst Brian noted that Wellington, which is a large shareholder of Bristol-Myers (BMY), is opposed to its acquisition of Celgene (CELG). The analyst said he may have miscalculated the passivity of large-cap investors when it came to the deal. He believes the deal will go through as it appears to beneficial to Bristol, but risk has now been introduced to the deal and the share price of Celgene. Skorney maintains his Outperform rating and $101 price target on Celgene shares.
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