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Lilly Boosts Bid for Icos

Stock quotes in this article: ICOS , LLY  

Eli Lilly(LLY Quote) raised its offer to acquire Icos(ICOS Quote) by $2 a share to $34, taking the overall value of the deal to $2.3 billion.

Lilly called the bid its "best and final offer." The move will force a delay in a vote by Icos shareholders, which had been scheduled for Tuesday.

Instead, shareholders of the company that makes the impotence drug Cialis will vote on Jan. 25. Icos shareholders as of Dec. 26 will be eligible to vote. The boards of Icos and Lilly unanimously approved the new offer. ...

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