Bristol proxy recommendation ‘major step’ to deal closure, says William Blair

William Blair analyst Y. Katherine Xu says the recommendation by Institutional Shareholder Services is a “major step” for closing Bristol-Myers Squibb’s (BMY) proposed acquisition of Celgene (CELG). The analyst now believes Bristol holders are likely to vote in favor of the deal. She keeps an Outperform rating on Bristol-Myers shares. The stock in morning trading is down 42c to $47.42 while Celgene is up 7%, or $6.17, to $93.62.

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