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Article: Bristol-Myers Squibb Proposes to Acquire ImClone Systems for $60.00 Per Share in Cash.
- Article from:
- Cancer Weekly
- Article date:
- August 19, 2008
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Bristol-Myers Squibb Company (NYSE: BMY) announced that it has proposed to enter into an agreement to acquire ImClone Systems Incorporated (NASDAQ: IMCL), a global leader in the development and commercialization of novel antibodies to treat cancer, for $60.00 per share in cash, or a total payment of approximately $4.5 billion, to equity holders of ImClone, other than Bristol-Myers Squibb. Bristol-Myers Squibb currently owns approximately 17 percent of all outstanding shares of ImClone (see also Bristol-Myers Squibb Company).
Bristol-Myers Squibb's all-cash offer, which is not conditioned on the receipt of financing or on the conduct of due diligence, represents a ...