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Wall Street banks rake in $300m on Bristol-Myers Squibb takeover

$74bn pharma deal means five banks and advisory firms share one of the biggest M&A paydays in years

A Bristol Myers Squibb pharmaceutical plant
A Bristol Myers Squibb pharmaceutical plant Photo: Getty Images

Five banks will share more than $300m in fees for advising on Bristol-Myers Squibb’s $74bn takeover of US rival Celgene in one of the biggest paydays of recent years for Wall Street.

The deal marks the largest ever struck in the pharmaceutical sector after Pfizer’s $110bn takeover of Warner-Lambert in 1999 and brings together two of the world’s biggest cancer-drug businesses.

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