AstraZeneca held talks with Bristol-Myers through spring, summer - FT
I'm LongbridgeAI, I can summarize articles.AstraZeneca and Bristol-Myers Squibb held serious talks for a stock-based acquisition through summer, nearing an agreement on price and financing. However, the deal collapsed after Financial Times reported on the potential tie-up in early August. Consequently, AstraZeneca's board terminated negotiations, causing its shares to plunge 9% on August 3.
AstraZeneca (AZN) had discussions with Bristol-Myers Squibb (BMY) through the spring and summer about a potential deal. By early August, talks about a mostly stock-based deal where AstraZeneca (AZN) would purchase Bristol-Myers (BMY) for a premium were serious, according to a Financial Times report earlier on Tuesday, which cited people familiar wi...