Bristol Myers slips on reports of merger discussions with AstraZeneca
BMY•Shares fall on merger talk with AstraZeneca
- Shares of Bristol Myers Squibb BMY.N fall 1.3% to $64.49
- BMY and AstraZeneca AZN.L held preliminary talks about a possible merger that would create one of the world's biggest pharmaceutical companies with a combined value of nearly $400 billion, a person familiar with the situation told Reuters
- The Financial Times first reported the news; Reuters could not determine whether the talks are ongoing
- London-listed shares of AZN down 8.4%; biggest loser on FTSE 100 index
- BMY gained ~21% YTD, while AZN lost over 14%
(Reporting by Joel Jose and Kamal Choudhury in Bengaluru)
