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Bristol-Myers Ups Bid to $62 for ImClone
Mike Havrilla (September 23rd, 2008) Writes:
Bristol-Myers Ups Bid to $62 for ImClone
Last night, Bristol-Myers (BMY) announced plans to increase its bid for the remaining 83% of ImClone Systems (IMCL) it does not already own to $62 per share and plans to take the offer directly to shareholders in the form of a tender offer. ImClone and Chairman Carl Icahn rejected a $60 per share cash bid from Bristol-Myers at the end of July and stated that a mystery big pharma bidder had emerged at $70 per share, as I last wrote about here. Besides Bristol-Myers 17% stake in ImClone, the two companies are marketing partners for Erbitux in North America (BMY receives 61% of sales in the U.S. and Canada) and recently filed with ...
Last night, Bristol-Myers (BMY) announced plans to increase its bid for the remaining 83% of ImClone Systems (IMCL) it does not already own to $62 per share and plans to take the offer directly to shareholders in the form of a tender offer. ImClone and Chairman Carl Icahn rejected a $60 per share cash bid from Bristol-Myers at the end of July and stated that a mystery big pharma bidder had emerged at $70 per share, as I last wrote about here. Besides Bristol-Myers 17% stake in ImClone, the two companies are marketing partners for Erbitux in North America (BMY receives 61% of sales in the U.S. and Canada) and recently filed with ...
Tags for this Post:
Biotech, Bristol, Canada, Carl Icahn, Fda, Head And Neck Cancer, imclone systems, Market Commentary, North America, treatment of head and neck cancer, United States, USD
Biotech, Bristol, Canada, Carl Icahn, Fda, Head And Neck Cancer, imclone systems, Market Commentary, North America, treatment of head and neck cancer, United States, USD
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