Entries tagged "Eli Lilly "
As consolidation in the pharma business continues, Eli Lilly could find itself becoming a target.
Pharmaceutical company Eli Lilly and Co. made its biggest acquisition ever with its $6.5 billion cash deal to acquire biotech company ImClone Systems Inc. on Monday. But credit rating agency Fitch Ratings feels Eli Lilly is taking a risk that may warrant a possible credit rating downgrade....
Add another notch to Carl Ichan's belt. Eli Lilly and Co. will acquire ImClone Systems Inc. for $70 per share or about $6.5 billion. The deal was announced after ImClone rejected a sweetened bid from Bristol-Myers Squibb Co. Bristol first offered $60 a share July 31, then $62 and then threatened to go hostile last week. Bristol, which holds a 17% stake, wanted buy the rest of the shares in the company. ...
So Carl Icahn wasn't bluffing. Eli Lilly and Co. is apparently the mystery bidder for ImClone Systems Inc., and the company is in talks to acquire the New York-based biotech company for $6.1 billion, according to a report by The Wall Street Journal. ...
ImClone Systems Inc. said a mystery bidder, which has tentatively offered a bid of $70 a share or $6.1 billion, has informed the company that it will either make a formal bid or withdraw from talks by the end of the day on Wednesday. ...
