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