Starboard plots board coup after buying into Bristol-Myers in lead-up to Celgene buyout vote

Activist investor Jeff Smith inserted himself into the M&A dance between Bristol-Myers Squibb and Celgene at the beginning of this month, when Bloomberg reported that his hedge fund, Starboard Value, had invested an unknown amount of cash into the pharma giant. And now Starboard is making a move on Bristol-Myers’ board, stoking fresh speculation about his intentions regarding the $74 billion buyout.