BMS may just "walk away" from ImClone proposal

Bristol-Myers Squibb is evidently feeling a bit spurned these days, what with a mystery suitor trying to charm ImClone with an offer that's $10 a share sweeter than BMS'.

"You should never fall in love with an asset," says CFO Jean-Marc Huet. Talking with analysts and investors, Huet made no secret of his affections for the "bolt-on" acquisition of ImClone. But "there are situations in which we are willing to walk away," he added.

ImClone chairman Carl Icahn, meanwhile, can barely contain his preference for anyone willing to bid the price higher than BMS' $60 per share offer. Icahn doesn't seem all that interested in love at the moment.

- read the report from Dow Jones

Related Articles:
Icahn and Cornelius trade notes, barbs
Icahn's mystery buyer could spark bidding war
ImClone rejects BMS, gets higher bid
ImClone builds case for higher takeover bid
ImClone buyout could founder over drug dispute