August 1, 2008 |
Bristol-Myers Squibb Co. on Thursday offered $4.5 billion in cash for biotechnology company ImClone Systems Inc., saying the two, which are cancer drug partners, were "a natural fit." The proposal offers ImClone stockholders $60 a share, a 30% premium over the company's closing price of $46.44 on Wednesday. Bristol-Myers, the world's No. 14 drug maker by revenue, already owns about 17% of ImClone.
August 24, 2006 |
Billionaire investor Carl Icahn said that he wanted to be a member of ImClone Systems Inc.'s board and that the biotechnology company's chairman, David M. Kies, should not be reelected. Icahn, 70, said acting Chief Executive Joseph Fischer should be replaced by someone with a "significantly stronger background in biotechnology," according to a regulatory filing.
August 15, 2006 |
Carl Icahn increased his stake in ImClone Systems Inc. and hasn't yet decided whether to join the biotechnology company's board, according to a regulatory filing. The company, best known for its role in the Martha Stewart trading scandal, offered a board seat to the billionaire U.S. investor last week, after ImClone abandoned a six-month search for a buyer. Icahn, ImClone's second-biggest stockholder, raised his stake to 11.
January 25, 2006 |
ImClone Systems Inc. said it had hired investment bank Lazard Ltd. to explore the potential sale or merger of the company as competition for its colon cancer drug Erbitux heats up. Investors are skeptical that the New York-based company will easily find a buyer. Some analysts said the most obvious purchaser would be Bristol-Myers Squibb Co., which owns about 20% of ImClone and is in charge of the clinical development of Erbitux.
November 4, 2005 |
Two friends of former ImClone Systems Inc. Chief Executive Samuel D. Waksal agreed to pay a combined $2.8 million to settle civil charges of insider trading, the Securities and Exchange Commission said Thursday. Zvi Fuks and Sabina Ben-Yehuda, who were also arrested in March on criminal charges of insider trading of ImClone stock in December 2001, settled without admitting or denying the civil charges, the SEC said.
June 8, 2005 |
ImClone Systems Inc., maker of colon cancer medicine Erbitux, said billionaire investor Carl Icahn was seeking U.S. antitrust clearance to increase his stake in the company to as much as $500 million. Icahn held almost 5 million shares of ImClone, or almost 6% of those outstanding, as of April 18, an ImClone spokesman said. That holding was worth about $150.6 million at the close of trading Tuesday. ImClone shares rose 5 cents to $30.16. The company disclosed Icahn's filing after U.S.