Bristol-Myers Squibb (BMY) will acquire Celgene (CELG) in a cash and stock transaction with an equity value of approximately $74 billion.
Under the terms of the agreement:
Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and $50.00 in cash for each share of Celgene. They will also receive one tradeable Contingent Value Right (CVR) for each share of Celgene, which will entitle the holder to receive a payment for the achievement of future regulatory milestones. The companies’ Boards . . .