News Releases

Baker Botts’ Antitrust Team Guides Celgene Corporation to FTC Approval of Merger with BMS

Release

WASHINGTON, D.C., November 15, 2019 – Baker Botts L.L.P., a leading energy and technology law firm, today announced that its client Celgene Corporation obtained FTC approval of its transformative $74 billion merger with Bristol-Myers Squibb Company (“BMS”). As a condition of FTC approval, and to facilitate a timely closing of the merger, BMS and Celgene have agreed to divest Celgene’s Otezla OTEZLA® (apremilast) business to Amgen for a cash purchase price of $13.4 billion. The FTC’s press release announcing the agency’s decision can be found here.

The Baker Botts team was led by partner Stephen Weissman and associate Steve Pet. Both are located in the Washington, D.C. office. Mr. Weissman previously served as Deputy Director for the FTC’s Bureau of Competition (2013-2015).

 

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