Bristol-Myers Squibb Co. (NYSE:BMY) shares moved up $1.72, or 6.56%, to $27.93 in early trading today after rumors surfaced that the company could be acquired by
Sanofi-Aventis (NYSE:SNY). La Lettre de l'Expansion - a French newspaper - reported that a pre-merger memorandum has even been signed last week. Meanwhile, both Sanofi-Aventis and Bristol-Myers declined to comment on the speculation.
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