ICOS Corporation (ICOS) to Receive $34 Per Share From Eli Lilly (LLY) in Amended Merger Agreement

December 18, 2006 7:33 AM EST

ICOS Corporation (NASDAQ: ICOS) announced that an agreement has been reached to amend the terms of the merger agreement with Eli Lilly and Company (NYSE: LLY), which was originally signed on October 16, 2006.

The revised Agreement and Plan of Merger provides that Lilly will acquire all of the outstanding common stock of ICOS for a purchase price of $34 per share in cash, increased from the previous $32 per share. ICOS' board of directors has considered and unanimously approved the revised $34 per share price and recommends that shareholders approve the revised Agreement and Plan of Merger.

ICOS also announced that its board has set a new record date, December 26, 2006, for shareholders entitled to vote on the merger. ICOS will adjourn its currently scheduled special meeting, from December 19, 2006, to January 25, 2007.

Related Categories

Management Changes

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?