BioCentury
ARTICLE | Finance

Ebb & Flow

October 13, 2008 7:00 AM UTC

Companies about to be acquired generally trade just under the acquisition price. But in the case of ImClone (NASDAQ:IMCL), concerns about the credit market - or maybe just general market anxiety - appear to be keeping investors from bidding the stock up close to Monday's $70 tender offer from Eli Lilly(NYSE:LLY).

On Monday, ImClone shares traded no higher than $67.80. The stock closed the week up only $0.04 to $65...