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AstraZeneca Holds Preliminary Merger Talks With Bristol Myers Squibb
Just the facts
British-Swedish pharmaceutical corporation AstraZeneca initiated preliminary merger discussions with American pharmaceutical company Bristol Myers Squibb. If finalized, the transaction would unite AstraZeneca, based in Cambridge, United Kingdom, with New York City-headquartered Bristol Myers Squibb to form one of the world's largest healthcare entities. The potential consolidation comes as pharmaceutical firms seek to expand their proprietary drug portfolios and bolster oncology and immunology research pipelines. Neither company publicly disclosed prospective valuation terms or a definitive timetable for completing the strategic negotiations.
Why this is news
British-Swedish pharmaceutical company AstraZeneca initiated preliminary discussions with American drugmaker Bristol Myers Squibb concerning a potential corporate merger. The proposed transaction would combine two major global healthcare firms.
Sources
This summary is compiled strictly from the original reporting below.