Bristol-Myers Squibb Company (NYSE:BMY) stock traded higher on Monday following reports that the company is in discussions to merge with AstraZeneca Plc (NASDAQ:AZN).
The potential combination could create a pharmaceutical giant valued at nearly $400 billion.
AstraZeneca holds an estimated market capitalization of $263 billion, while Bristol-Myers Squibb has a valuation of approximately $133 billion.
A completed deal would position AstraZeneca as the world's fourth-largest drugmaker by market value.
Read Also: Jim Cramer Senses a 'Fake Out' in Rumored AstraZeneca, Bristol Myers Squibb $400 Billion Mega-Merger Ongoing Discussions And Deal Terms Talks between the two firms have continued for several months and could soon yield an agreement.
