Bristol-Myers, Squibb Holders OK Merger: Bristol-Myers Co....

Bristol-Myers, Squibb Holders OK Merger: Bristol-Myers Co. and Squibb Corp. stockholders approved their companies’ $11.5-billion merger into Bristol-Myers Squibb Co., which will be world’s second-largest pharmaceuticals company. The merger is a further step in the consolidation of the global pharmaceuticals industry. Analysts say mergers are encouraged by the industry’s stiff competition and development costs of hundreds of millions of dollars for the introduction of a single drug. The merger will take effect today, Bristol-Myers officials said. The combined company will be headquartered in New York.