ICOS (ICOS) Shareholders Vote to Approve Merger With Eli Lilly (LLY)
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ICOS Corporation (NASDAQ: ICOS) announced that, at a special meeting of shareholders held today, its shareholders approved the revised Agreement and Plan of Merger whereby Eli Lilly and Company (NYSE: LLY) will acquire all of the outstanding stock of ICOS for a purchase price of $34 per share in cash.
"We are pleased that this transaction has been approved, as we believe it represents attractive value for ICOS shareholders," said Paul Clark, ICOS chairman, president and chief executive officer. "The value our employees have created is the result of years of innovation and hard work to build a highly skilled organization that has produced a best-in-class product with nearly $1 billion in sales, and achieved profitability in an industry where few companies ever do."
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