BRIEF—B-MS extends expiration date for exchange offers for Celgene

Ahead of market opening, Bristol-Myers Squibb today announced the extension of the expiration date of the offers to exchange issued by Celgene Corp up to $19,850,000,000 aggregate principal amount of new notes to be issued by B-MS, as part of its planned $74 billion share and cash acquisition of the biotech major.

The delay if from 5:00 pm, New York City time, on June 3, 2019, to 5:00 pm, New York City time, on July 8, 2019 (as the same may be further extended).

The amounts of Celgene debt tendered thus far range from 70.65% - 97.79%, depending on the tranche.

The closing of the merger is expected to occur in the third quarter of calendar year 2019. As a result, the expiration date may be further extended one or more times. B-MS will provide notice of any such extension in advance of the expiration date.