Exclusive-'No discussions' over AstraZeneca-Bristol Myers deal, senior source says
Rumors and Official Statements on AstraZeneca-Bristol Myers Merger
By Maggie Fick and Sabrina Valle
Senior Source Denies Merger Talks
Aug 5 (Reuters) - There are "no discussions" ongoing between AstraZeneca and Bristol Myers Squibb over a potential deal, a senior source close to the matter told Reuters on Wednesday, quashing the prospect of a mooted mega merger between the drugmakers.
Direct Quote from the Source
"There is no deal between AstraZeneca and BMS. There never was a deal to be done, and there are no discussions between the companies," said the source, speaking on condition of anonymity.
Company Responses
AstraZeneca and Bristol Myers Squibb both declined to comment in response to emailed questions from Reuters.
Background and Market Reaction
Previous Reports of Talks
On Sunday Reuters reported, citing a person familiar with the situation, that the two drugmakers had held preliminary talks about a possible deal that would create a pharmaceutical behemoth with a combined value of nearly $400 billion.
Uncertainty Over Ongoing Discussions
Reuters was unable to ascertain at that time if the discussions remained ongoing.
Other Media Coverage
The Financial Times first reported news of the talks.
Stock Market Impact
AstraZeneca shares slid around 9% after the reports of the deal talks, while Bristol Myers shares had held more steady.
Reporting Credits
(Reporting by Maggie Fick and Sabrina Valle; Additional reporting by Amy-Jo Crowley; Editing by Adam Jourdan and Jan Harvey)
