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New York financial PR firm Prosek Partners is handling media for Wellington Management Co, the largest institutional shareholder of Bristol-Myers Squibb, which opposes its $90B acquisition of Celgene.
“While Wellington agrees that Bristol-Myers should be active in business development that secures differentiated science and broadens the future revenue base, Wellington does not believe that the Celgene transaction is an attractive path towards accomplishing this goal,” the eight-percent owner of BMS said on Feb. 27.
It wants BMS to explore “alternative paths” to create value for shareholders.
BMS CEO Giovanni Cafurio responded via a Feb. 27 “Colleagues” letter that expressed disappointment with Wellington’s position.
He expects “that with continued discussion, shareholders will recognize the enhanced value this transaction would create and continue to believe strongly in the merits of the deal.”
Cafurio understands “that the noise and speculation in the media may be distracting." He encourages colleagues to “focus on delivering our business priorities and the important work you are doing for patents.”
He signed off with “Sincerely, Giovanni.”
Joele Frank, Wilkinson Brimmer Katcher works the BMS/Celegene deal that faces a shareholder vote on April 12.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
