Notable Mergers and Acquisitions of the Day 10/2: IMCL/LLY, MCHP/ONNN/ATML, URI

October 2, 2008 9:58 AM EDT

  • WSJ reports that ImClone's (Nasdaq: IMCL) mysterious $70 bidder was none-other-than Eli Lilly (NYSE: LLY). The WSJ says Eli Lilly is now in advanced talks to buy ImClone at this price.

  • Microchip Technology Incorporated (NASDAQ: MCHP) and ON Semiconductor Corporation (NASDAQ: ONNN) today announced that they have sent a proposal to the Board of Directors of Atmel Corporation (NASDAQ: ATML) to acquire Atmel for $5.00 per share in cash. The proposal, which is being led by Microchip, provides a premium of 52.4% to Atmel's closing price of $3.28 on October 1, 2008, and values Atmel at $2.3 billion.

  • United Rentals, Inc. (NYSE: URI) today announced that it has acquired Portland U-Rent-It, Inc., a privately held industrial oriented rental company, with sales of approximately $11 million, based in Corpus Christi, Texas.
To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions


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Stocks Mentioned

ATML 2.77

+0.23 +9.06%
Volume: 4,554,760
Track ATML

IMCL 69.99

+0.00 +0.00%
Volume: 853,172
Track IMCL

LLY 33.19

+2.07 +6.65%
Volume: 6,817,895
Track LLY

MCHP 17.48

+0.30 +1.75%
Volume: 2,990,828
Track MCHP

ONNN 2.87

+0.19 +7.09%
Volume: 8,161,497
Track ONNN

URI 6.84

+0.42 +6.54%
Volume: 973,120
Track URI


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