Keyword: Wellington Management
Starboard Value's 197-page presentation against the BMS-Celgene deal lacks a "smoking gun," an analyst wrote. He believes the deal will go through.
Credit Suisse analysts have uncovered a Novartis patent that they fear could be a threat to ozanimod, Celgene's phase 3 multiple sclerosis candidate.
BMS responded to Starboard Value's attempt to scuttle its $74 billion acquisition of Celgene with 46 pages laying out its reasoning for the deal.
Wellington and other large funds may oppose the BMS-Celgene merger, but the math doesn't add up for a successful thumbs-down vote, analysts report.
Starboard Value is rallying the troops against BMS' $74 billion Celgene deal, and it has more support than some expected. But will it be enough?