Thursday, December 07, 2006

Eli Lilly (LLY) CEO Said It Does Not Plan to Raise ICOS Offer

On CNBC, commenting on the ICOS Corp. (Nasdaq: ICOS) takeover, Eli Lilly and Company (NYSE: LLY) CEO Sidney Taurel said its $32 offer is fair and full and it has no plans on raising it.
Shares of ICOS closed at $33.37 yesterday on expectations of an increased bid. Some shareholders plan to vote against the merger, saying it undervalues the company.

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