AstraZeneca stock took a nosedive Monday amid reports it's mulling a mega-merger with Bristol Myers Squibb.
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A combination of the two pharmaceutical companies could create an entity valued at nearly $400 billion, according to the Financial Times
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The merger would be one of the biggest pharma deals ever. AstraZeneca’s market capitalization stood at $264 billion as of Friday’s close, while Bristol Myers Squibb had a total valuation of $133 billion.
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The move would mark one of the industry’s largest ever deals and create the world’s fourth largest pharmaceutical company.
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Investing.com -- AstraZeneca PLC (NYSE:AZN) and Bristol-Myers Squibb Company (NYSE:BMY) have held talks in recent months about a deal that would combine the companies into one, according to a Financial Times report.
AstraZeneca is plotting a $400bn (£300bn) merger with US rival Bristol Myers Squibb in a deal likely to raise fresh questions over the company’s ties to the UK.
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