9/23/2008

Bristol-Myers Squibb announced that it is increasing its takeover offer for ImClone Systems to $62 per share, raising the value of the deal to $4.7 billion. In a letter to ImClone Chairman Carl Icahn, Bristol-Myers Chairman and CEO James Cornelius said delays in the transaction "have created a protracted period of uncertainty among our stockholders, employees and other constituents."

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