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| 2009 | IMCLONE SYSTEMS : Lilly profit falls on ImClone charges | RE |
| 2008 | IMCLONE SYSTEMS : Lilly says 2009 earnings crimped by ImClone costs | RE |
BOSTON (Reuters) - ImClone Systems Inc has agreed to be acquired by Eli Lilly and Co for about $6.1 billion after rebuffing a sweetened takeover offer from Bristol-Myers Squibb, sources familiar with the situation said on Monday.
The agreement, which values ImClone at $70 per share, has been approved by the boards of both ImClone and Eli Lilly, sources said.
The merger pact includes a so-called "no shop" provision that prevents ImClone from actively soliciting superior offers, sources said.
ImClone and Eli Lilly could not be immediately reached for comment.
(Reporting by Toni Clarke; Writing by Jessica Hall; Editing by Kim Coghill)
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