Starboard Asks Shareholders to NOT Allow Bristol-Myers to Bet the Company on a Highly-Risky and Likely Value-Destructive Acquisition
Believes Bristol-Myers Standalone Is a Safe Investment with a Reliable Dividend
Asks Shareholders to NOT Allow Bristol-Myers to Incur Substantial Debt to Buy Celgene's Risky Pipeline
Believes the Proposed Acquisition of Celgene Is Not in the Best Interests of Bristol-Myers Shareholders and Urges All Shareholders to Vote AGAINST the Proposed Transaction
NEW YORK, March 28, 2019 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), a shareholder of Bristol-Myers Squibb Company ("Bristol-Myers" or the "Company") (BMY), today announced that it has mailed a letter to Bristol-Myers shareholders regarding the Company's proposed merger with Celgene Corporation (the "Merger"), which it believes is ill-advised and not in the best interests of Bristol-Myers shareholders.
The letter is available for viewing at https://shareholdersforbristol.com/wp-content/uploads/2019/03/Letter-to-BMY-Shareholders-03.28.19.pdf
About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Peter Feld, (212) 201-4878
Gavin Molinelli, (212) 201-4828
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