CPI | AstraZeneca, Bristol Myers Dismiss Merger Talk Speculation
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Reuters reported Wednesday, citing a senior source familiar with the matter, that there is "no deal" between the companies and that no discussions are currently taking place. The report, followed market speculation after the Financial Times reported that AstraZeneca had been in talks over a possible merger with Bristol Myers. The clarification helped calm investor concerns about what would have been one of the largest pharmaceutical mergers on record. According to Fierce Pharma, AstraZeneca shares rebounded about 3% after Reuters published its report, recovering part of the sharp decline that followed the earlier Financial Times story. Bristol Myers shares were down about 3% in morning trading. Reuters also reported, according to Fierce Pharma, that another person familiar with the matter said any substantive negotiations would have required disclosure under U.K. market abuse regulations, suggesting no such talks had reached a reportable stage. Neither AstraZeneca nor Bristol Myers commented to Reuters on the report. Related: AstraZeneca, Bristol Myers Hold Talks on Potential $400 Billion Merger The Financial Times had previously reported that AstraZeneca had been considering a combination with Bristol Myers in a deal that would have created a pharmaceutical company valued at nearly $400 billion, according to Fierce Pharma. The report prompted debate among analysts over the...
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