Home / Markets / Industries / Health Care
Thursday, July 31, 2008
Bristol-Myers Makes Bid for ImClone Systems
FOXBusiness
Bristol-Myers Squibb (BMY) announced it offered to acquire ImClone Systems (IMCL), a biotechnology company, for $60 per share. The total payment to equity holders of ImClone would be $4.5 billion, according to Bristol-Myers.
The all-cash offer represents a 30% premium to ImClone's closing price of $46.44 on Wednesday.
Approximately 17% of all outstanding ImClone shares are owned by Bristol-Myers Squibb, and the two companies are already partners in the U.S. with the drug Erbitux, used to treat cancer.
ImClone shares are neared $65 this morning in premarket trading.
Fox Business Video
-
-
The Crisis With 20/20 Hindsight
-
Nov 21, 2009
FOXBusiness.com LIVE
-
-
-
Jerry Rice Talks Career
-
Nov 21, 2009
NFL Receiver on career on the gridiron
-
-
-
John O'Hurley as Venture Capitalist
-
Nov 21, 2009
Comedian on life as venture capitalist
-
-
-
Excess Spending in Congress
-
Nov 21, 2009
Saving $100 Million
-
-
-
Cavuto Business Report 11-20-09
-
Nov 21, 2009
Business Report: Cavuto
-
