Shareholders at Icos Corp. Are Ready to Take the Final Decision Regarding Eli Lilly's Offer To Buy Icos

After Eli Lilly, the pharmaceutical firm that jointly manufactures Cialis with the Brothell-based Icos, has put forward a price of $2.3 billion or $34 per share to buy Icos Corp. The shareholders at Icos Corp. are gearing up to present their views on this issue today and to take the decision on whether Eli Lilly should be allowed to buy Icos.

The shareholders were about to cast their votes on this issue in the month of December but the meeting organized for the purpose was cancelled when Eli Lilly raised its offer from $32 per share to $34.

The decision taken by the shareholders is likely to have a significant impact on the employees in the Icos Corp. and it is also clear that if the deal is sanctioned by the shareholders, about 400 workers would lose their jobs.

It appears that after the merger of the two companies, another150 employees would join the new firm evolving out of the merger as contract workers.

Source: http://seattlepi.nwsource.com