Bristol-Myers Squibb Co, which has been trying to buy ImClone, last week raised its offer for the part of the company it does not already own to around $4.7 billion.

ImClone is expected to announce a deadline by which it hopes to have a deal with its other suitor, the paper said, citing the people familiar with the matter.

The two sides remain in "deep discussions" and believe they can reach a resolution within days, it added.

One person involved in the talks told the paper more than one company had expressed interest in exploring a transaction with ImClone following Bristol's unsolicited July bid.

These parties included Pfizer Inc and Eli Lilly & Co, the source said.

ImClone, Pfizer and Eli Lilly could not immediately be reached for comment.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Clarence Fernandez)