Icahn's mystery buyer could spark bidding war

Carl Icahn (photo) all but got out the bull horn yesterday and asked people to step right up and start offering some big numbers if they want to take over ImClone. After Icahn announced that a mystery bidder had offered $70 a share for ImClone--far higher than the $60 offer from Bristol-Myers Squibb--analysts chalked it up as the financier's clear effort to get the bidding started earnestly.

"This is Mr. Icahn's shot across the bow," Michael King, senior biotechnology analyst at investment bank Rodman & Renshaw, told the Wall Street Journal. "He's not going to wait for Bristol to make up its mind. He wants action." Deutsche Bank analyst Barbara Ryan is looking for a $70-a-share counter--putting a value of $6.1 billion on the deal--offer from BMS with no due diligence.

On the short list of Big Pharma companies possibly playing for ImClone are Pfizer--which has a big interest in oncology--and Merck KGaA. Sanofi-Aventis, GSK and AstraZeneca also make the list. But that's pure speculation--just what Icahn had in mind. 

- read the story from the Wall Street Journal

ALSO: Accenture signed a new 10-year, $550 million agreement with Bristol-Myers Squibb for a range of finance and accounting and application development and maintenance services. Release

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