Skip to main content

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


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." BioTalk: IMCL, BMY

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 1815780060; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

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.