Deals
Bristol-Myers Plans to Exit Acceleron Stake With Merck Deal
Merck & Co.’s new antiviral medication.
Source: Merck & Co.
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Bristol-Myers Squibb Co. is planning to tender its shares in Acceleron Pharma Inc. after Merck & Co. agreed to buy the biotechnology company for $11.5 billion, according to people with knowledge of the matter.
Bristol-Myers is Acceleron’s biggest shareholder with an 11.5% stake that it inherited when it bought Celgene Corp. in 2019. Selling that stake will bring Merck deal closer to completion.