ImClone's Mystery Bidder Steps Forward

Looks like Carl Icahn wasn’t kidding when he said he had a mystery bidder prepared to acquire ImClone at $70 a share. The Wall Street Journal is reporting that Eli Lilly is looking at purchasing ImClone for $6.1 billion.

Bristol-Meyers Squibb has pursued ImClone for the past few months to no avail. Intially they offered $60 a share for the company, then they bumped it to $62. If they intend to start a bidding war with Eli Lilly, they better start soon, as ImClone said on Monday it wanted to close its deal with Eli Lilly by midnight on Wednesday.

See Also: What’s Going On With ImClone?
Carl Icahn Finds A Better Deal

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