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Article: ICOS Announces Revised Merger Agreement With Lilly.
- Article from:
- Business Wire
- Article date:
- December 18, 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 Board Unanimously Recommends Shareholders Approve Increased $34 per Share Cash Merger
BOTHELL, Wash. -- ICOS Corporation (NASDAQ:ICOS) announced today that an agreement has been reached to amend the terms of the merger agreement with Eli Lilly and Company (NYSE:LLY), which was originally signed on October 16, 2006.
The revised Agreement and Plan of Merger provides that Lilly will acquire all of the outstanding common stock of ICOS for a purchase price of $34 per share in cash, increased from the previous $32 per share. The $34 price per share represents: a 25% premium compared to the closing price the day before the initial announcement on October ...