Bristol-Myers Squibb Co (NYSE: BMY) is is experiencing a relatively strong spike in the market at the moment, and for good reason. There are rumors surfacing that the company will soon be taken over. Of course, these rumors are leading to excitement among investors, sending the stock upward. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:45), BMY is trading at $55.88 per share after a gain of $0.22 per share (0.40%) thus far today.
Rumors Suggest That PFE May Buy BMY
As mentioned above, the spike that BMY is seeing in the market at the moment has to do with the idea that the company will soon be taken over. Currently, rumors are breaking all over the social space that Pfizer Inc. (NYSE: PFE) is interested in taking the company over. However, there is no indication at what price, nor confirmation from either side at the moment.
It’s important to remember that rumors like this are common in the market. In fact, there was a rumor just a few months ago that PFE was interested in taking BMY over, but the rumor never came to fruition. With that said, it is unlikely that this takeover is going to happen. So, if you’re going to trade on this news, please do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both BMY and PFE. In particular, we’re interested in following the story surrounding the potential takeover. While it is unlikely that the rumor is correct, if it is, the takeover would likely generate an incredible return of value for investors. We’ll continue to follow the story closely and bring the news to you as it breaks!
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