Summary
- Uncertainty around the proposed Bristol-Myers/Celgene merger remains elevated as several institutional investors lobby against the deal.
- It's nearly impossible to discern the outcome by reading headlines; everyone is "talking their book."
- I believe examining the arbitrage spread continuum provides insight as to which way shareholder votes may be leaning.
Back in early January, Bristol-Myers Squibb Co. (BMY) made an offer to acquire Celgene Corp. (CELG).
Several S.A. authors contributed thoughtful commentaries reflecting upon the April 12 shareholder voting outcome. If affirmative, the voting will clear the way for a third-quarter closing.
In this article, I'll weigh in, too: sharing an indicator I believe is a useful gauge to help cut through the market chatter.
