Activist Starboard ends BMS proxy war after advisories back Celgene deal | FiercePharma

A classic example of blame the messenger — and another conclusive rebuttal to the claim that proxy advisors are not inclined to support management.

Apparently, positive word from influential proxy advisory firms was enough to put the nail in the coffin on Starboard Value’s campaign to scuttle the mammoth Bristol-Myers Squibb-Celgene merger.

Friday, the rebel investor said it would stop soliciting BMS shareholders to vote against the tie-up—and it blamed Institutional Shareholder Services (ISS) and Glass Lewis, who came out earlier in the day in support of the deal, for thwarting its campaign.

Source: Activist Starboard ends BMS proxy war after advisories back Celgene deal | FiercePharma

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