Imclone (IMCL) Higher On Reports Company Received $36 Offer
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Shares of Imclone Systems Inc. (Nasdaq: IMCL) are higher in after-hours action on news the company received a $36 per share offer in stock. The offer was subject to Carl Icahn's backing. Icahn declined to support the $36 per share proposal.
In the past, Bristol-Myers Squibb Co. (NYSE: BMY) was thought to be a buyer of Imclone. Bristol-Myers partners with the company on cancer drug Erbitux.
Shares of Imclone are 6.7% higher in after-hours action.
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