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Article: ICOS Corporation Announces Agreement to be Acquired by Eli Lilly and Company.
- Article from:
- Business Wire
- Article date:
- October 17, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ICOS Shareholders to Receive $32 per Share in Cash, a 32% Premium
Transaction Valued at $2.1 Billion
BOTHELL, Wash. -- ICOS Corporation (ICOS) (NASDAQ: ICOS), announced today that it has signed a definitive agreement to be acquired by Eli Lilly and Company (Lilly) (NYSE: LLY). ICOS and Lilly currently have a joint venture that manufactures, markets and sells ICOS' leading product, Cialis([R]), which treats erectile dysfunction.
Under the terms of the agreement, ICOS shareholders will receive $32 in cash for each share of ICOS common stock, representing a 32 percent premium to the average closing price of ICOS' stock for the last ninety days. The ...