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Shares in AstraZeneca fell after the Financial Times reported on Sunday that AstraZeneca and Bristol Myers Squibb had been discussing a potential merger over several months.
The FT's framing was notable: the report left analysts perplexed. A deal that confounds the people closest to both companies is a deal without a visible thesis.
What the Financial Times reported The FT reported on Sunday that the two companies had held discussions on a potential combination over several months.
That is the core information gap: confirmed talks, no stated rationale, and a share price reacting to the uncertainty in between. The case for perplexity Perplexed is a word with weight in this context.
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