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Bristol-Myers shares down nearly 2 percent. Can it recover soon?

Micheal Ben


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The shares of Bristol-Myers Squibb plunged after the company urged its shareholders to support its planned $74 billion takeover of Celgene Corp. The drug manufacturer believes the takeover is the best course of action but the company shareholders are rejecting the proposals. Some shareholders publicly opposed the deal and that does not do anything good for Bristol Myers. The low correlation between the management and shareholders doesn't inspire investor confidence and the stock could plunge further very soon. 

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