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Shares of Bristol-Myers climbed as much as 4 percent after investor Carl Icahn reportedly took a stake in the company, according to Dow Jones, citing sources.
Icahn said he sees value in the drug-maker's pipeline and views it as a possible takeover target, according to the report.
While it initially spiked 4.8 percent, the company's stock last traded 0.9 percent higher.
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