Celgene shares pop after top proxy advisor ISS recommends Bristol-Myers investors approve buyout bid

Top proxy adviser Institutional Shareholder Services on Friday recommended Bristol-Myers Squibb shareholders vote in favor of its bid to buy peer biotechnology company Celgene.

The recommendation from ISS comes just weeks before Bristol-Myers investors will vote on whether to approve the company's $74 billion for Summit, New Jersey-based Celgene.

Celgene shares rose more than 6 percent in early trading.

This story is developing. Please check back for updates.

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