BMS hires Lehman, Citigroup, Morgan Stanley to field possible bids - report |
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Wed, 31 Jan 2007 08:12
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LONDON (AFX) - Bristol-Myers Squibb, the US pharmaceuticals group, is beefing up its banking team ahead of possible takeover approaches from rivals, notably Sanofi-Aventis, by retaining the services of three Wall Street banks, the Financial Times reported.People familiar with the companies told the newspaper the US group has in the past week appointed Lehman Brothers to work alongside Citigroup and Morgan Stanley to examine its options ahead of an expected takeover approach from Sanofi.The move is seen as a step towards creating a bidding war for BMS, the newspaper added.Sanofi has yet to hire any banks and has been 'caught cold' by this weeks leaked report of its plans to bid for BMS, a French banker told the FT.newsdesk@afxnews.comjmsCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Senior Morgan Stanley officer quits to join Lehman Brothers 