Bristol-Myers says shareholders vote to approve Celgene takeover

Business

FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured at the headquarters in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau/File Photo

NEW YORK (Reuters) – Bristol-Myers Squibb Inc’s shareholders voted to approve the drugmaker’s $74 billion takeover of biotech Celgene Corp on Friday despite a campaign by activist hedge fund Starboard Value LP to scuttle the deal.

The company said investors holding around 75 percent of its shares had voted in favor of the deal in a preliminary count.

The company also said during a shareholders meeting that it does not expect changes to the company’s dividend policy after the acquisition.

Reporting by Michael Erman, writing by Caroline Humer; Editing by Chizu Nomiyama

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