AstraZeneca shares jump ~6% after denying merger talks with Bristol-Myers Squibb

1. 1AstraZeneca (AZN) shares surged about 6% on Wednesday after news that there are no merger talks with Bristol-Myers Squibb (BMY).
2. 2Senior sources told Reuters that there is no deal or discussions between the two companies, partially reversing a roughly 9% drop on Monday.
3. 3A combined deal would have amounted to a market capitalization of roughly $400 billion, but analysts said the strategic rationale was weak.

Source Investing.com +1 · View original ↗

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