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news.Bristol-Myers Squibb has announced that it is increasing its initial offer for ImClone Systems and intends to commence a tender offer for the currently outstanding shares of common stock of ImClone that are not already owned by Bristol-Myers Squibb for $62 per share in cash.
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The offer is valued at approximately $4.7 billion, to equity holders of ImClone, other than Bristol-Myers Squibb. Bristol-Myers Squibb currently owns approximately 16.6% of all outstanding shares of ImClone.