Navigation Links
Lilly to Acquire ImClone Systems in $6.5 Billion Transaction
Date:10/6/2008

iary) will acquire ImClone through an all cash tender offer of $70.00 per share, followed by a merger of Lilly's subsidiary with ImClone. Lilly is expected to commence the tender offer as soon as practicable. The transaction is conditioned upon at least a majority of the outstanding ImClone shares being tendered, as well as clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar requirements outside the U.S., and other customary closing conditions. The transaction is not subject to any financing condition and is expected to close in either the fourth quarter of 2008 or the first quarter of 2009.

Upon the closing of the transaction, Lilly will incur a one-time charge to earnings for acquired in-process research and development, but it is premature to estimate what that charge will be. The company expects the transaction to be accretive to earnings on a cash basis in 2012 and on a GAAP basis in 2013.

Advisors

UBS Investment Bank is acting as lead financial advisor to Lilly and Deutsche Bank is also serving as financial advisor. Latham & Watkins LLP is acting as legal counsel to Lilly. J.P. Morgan is acting as financial advisor to ImClone and Katten Muchin Rosenman LLP is acting as ImClone's legal counsel.

Conference Call and Webcast

Lilly will conduct a conference call with the investment community and media today at 9:00 a.m. EDT to discuss today's announcement. Investors, media and the general public can access a live webcast of the conference call through the Webcasts & Presentations link that will be posted on Lilly's website at http://www.lilly.com. The webcast of the conference call will be available for replay through November 6, 2008.

Important Information about the Tender Offer

The press release is for informational purposes only and is neither an offer to purchase nor solicitation of an offer to sell securities. The tender offer for the outstan
'/>"/>

SOURCE Eli Lilly and Company
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Related biology technology :

1. Covance and Lilly Finalize 10-Year, $1.6 Billion Strategic R&D Collaboration
2. BioMS Medical announces receipt of milestone payment from Eli Lilly and Company
3. Amylin Pharmaceuticals and Eli Lilly Provide Context for FDA Alert for BYETTA
4. Amylin and Lilly Set Date and Time for Conference Call
5. Lilly Announces Completion of SGX Acquisition
6. SGX - Lilly Merger Offer Receives Positive Opinions From Proxy Advisory Firms
7. Lilly Reaffirms Purchase Offer for SGX Pharmaceuticals
8. Lilly Reports Solid Second-Quarter Results
9. Lilly to Acquire SGX Pharmaceuticals
10. Lillys Connelly Appointed to the Presidents Commission on White House Fellowships
11. Lilly Employees from Nearly 50 Nations Participate in Companys First-Ever Global Day of Service
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/20/2014)... 20, 2014 Mapp Biopharmaceutical,s valiant effort ... therapeutic to fight the Ebola outbreak will make ... the production of pharmaceuticals can be, according to ... that while some may be taken aback by ... with industry knowledge are well aware of the ...
(Date:10/20/2014)... 2014 /PRNewswire/ - BIOREM Inc. (TSXV: BRM) ("Biorem" or "the Company") ... orders to $5.8 million and provides a good start to Q4.  ... North America and one in the Middle ... at record levels," said Peter Bruijns , President & CEO. ... of Q3 than they have been for any complete year since ...
(Date:10/20/2014)... Oct. 20, 2014 PureTech , a ... big healthcare problems, announced today the closing of ... participation from Invesco Perpetual, a $120 Billion group ... drive PureTech,s existing pipeline forward and to advance ... the scientific creativity to really go for the ...
(Date:10/20/2014)... Local veterinary surgeon, Dr. Tim McCarthy is ... donor stem cells for dogs with osteoarthritis. Dr. McCarthy ... performed clinical stem cell therapy for 7 years. The ... a single injection of donor stem cells into one ... and inflammation in the treated joints. , Candidates ...
Breaking Biology Technology:Kalorama: ZMapp Highlights Need For Faster Biopharmaceutical Production 2Kalorama: ZMapp Highlights Need For Faster Biopharmaceutical Production 3PureTech Announces Expansion with Oversubscribed $55M Funding Round 2PureTech Announces Expansion with Oversubscribed $55M Funding Round 3PureTech Announces Expansion with Oversubscribed $55M Funding Round 4PureTech Announces Expansion with Oversubscribed $55M Funding Round 5PureTech Announces Expansion with Oversubscribed $55M Funding Round 6Cascade Veterinary Referral Center Seeks Candidates for an Investigational Study of Stem Cells for Dogs with Arthritis 2
... Sigma Life Science, the innovative biological ... SIAL ), announced that its SAGE Labs initiative ... Parkinson,s disease in collaboration with The Michael J. Fox ... SAGEspeed™ model creation process, these off-the-shelf rat models represent ...
... size, antennaswhether in a cell phone or on ... and bandwidth when their size is reduced below ... toward producing antennas by screen-printing, inkjet printing, and ... dipoles and loops," explained Jennifer T. Bernhard, a ...
... 16, 2011 Reportlinker.com announces that a new ... Global Growth Factors ( ... http://www.reportlinker.com/p0397766/Global-Growth-Factors--Blood-And-Tissue--Industry.html This report ... And Tissue) in US$ Million by the following ...
Cached Biology Technology:Sigma® Life Science Launches Suite of Knockout Rats to Model Parkinson's Disease 2Sigma® Life Science Launches Suite of Knockout Rats to Model Parkinson's Disease 33-D printing method advances electrically small antenna design 2Global Growth Factors ( Blood And Tissue ) Industry 2Global Growth Factors ( Blood And Tissue ) Industry 3Global Growth Factors ( Blood And Tissue ) Industry 4Global Growth Factors ( Blood And Tissue ) Industry 5Global Growth Factors ( Blood And Tissue ) Industry 6Global Growth Factors ( Blood And Tissue ) Industry 7Global Growth Factors ( Blood And Tissue ) Industry 8Global Growth Factors ( Blood And Tissue ) Industry 9Global Growth Factors ( Blood And Tissue ) Industry 10Global Growth Factors ( Blood And Tissue ) Industry 11Global Growth Factors ( Blood And Tissue ) Industry 12Global Growth Factors ( Blood And Tissue ) Industry 13Global Growth Factors ( Blood And Tissue ) Industry 14Global Growth Factors ( Blood And Tissue ) Industry 15Global Growth Factors ( Blood And Tissue ) Industry 16
(Date:10/14/2014)... – High doses of fish oil supplements, rich in omega-3 ... of irregular heartbeat in which the heart can beat as ... AFFORD trial led by the Montreal Heart Institute were published ... on October 7th. , For the trial, 337 patients ... assigned to 4 grams of fish oil a day or ...
(Date:10/14/2014)... This week, an international team of researchers, led by ... in the journal Nature Genetics a brief ... 360 varieties of the tomato plant. , The C.M. ... an important role in this study by providing seed ... , This study, which builds on the first tomato ...
(Date:10/14/2014)... – Researchers from Stanford University School of Medicine have ... cells and the activation of muscle stem cells. Cells ... energy during times of nutrient deprivation. The scientists report ... protective mechanism is operational it also seems to assist ... that when stem cells emerge from a quiescent state ...
Breaking Biology News(10 mins):Autophagy helps fast track stem cell activation 2
... comforting thought unless the living thing in question is a ... developing drug resistance, outwitting immune systems, and evading cellular controls. ... perturbations such as mutations that affect the function of vital ... perform old tasks. Somehow the bad guys find ...
... The delicate lady bug in your garden could be frighteningly ... in the air, a new study concludes. The study adds ... during the late Paleozoic period because they had a much ... , The study, "No giants today: tracheal oxygen supply to ...
... new approach to treating severe nerve pain ?by aiming drugs ... University of Utah scientists who study the venoms of deadly, ... way to treat a chronic and debilitating form of pain ... J. Michael McIntosh, a University of Utah research professor of ...
Cached Biology News:Evolution and the workaround 2Giant insects might reign if only there was more oxygen in the air 2Giant insects might reign if only there was more oxygen in the air 3A new target for painkillers 2A new target for painkillers 3A new target for painkillers 4
... These 1.5L PYREX trypsinizing ... homogenous tissue samples into cell ... proteins. Heavy beaded neck accepts ... enhance vigorous agitation. • Height ...
... of purified RNA samples., , This product ... aqueous RNA samples that have been pre-purified ... silica, oligo dT etc or other kits. ... necessary components for the stabilization of nanogram ...
Plasmid expressing the LacZ reporter gene....
Puromycin resistance gene (pac), provided in a pORF plasmid. pORF is an expression plasmid selectable with Ampicillin....
Biology Products: