This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ImClone: Mystery Suitor to Decide This Week

ImClone (IMCL) said Monday that the mystery bidder that has flirted with paying $70 a share for the company will make up its mind by Wednesday.

The company will either make a firm offer or withdraw by that deadline. ImClone said it will divulge the mystery suitor's name if it withdraws its proposal, according to an ImClone release.

Last week, Bristol-Myers Squibb (BMY - Get Report) went hostile with its own bid for the company, raising it to $62 a share and going directly to shareholders.

ImClone Chairman Carl Icahn dismissed the hostile tender offer as "misleading" and "absurd."

TheStreet.com BioTalk: IMCL, BMY

Investors, and no doubt Bristol Myers, will now wait to hear from the veiled third party.

ImClone is best known for its Erbitux cancer drug, which Bristol-Myers sells in the U.S. German company Merck KGaA sells the drug in Europe.

ImClone shares closed at $63.38 Friday.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BMY $65.80 0.00%
IMCL $3.00 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs