It looks like the ImClone deal might be making strides to get completed. I mentioned last week that I thought the deal was in danger of getting done. It was $65/sh then…. now it is above $67… the spread is closing.

From this article fin TheStreet.com:

Eli Lilly said Tuesday that it has commenced a tender offer for all outstanding shares of ImClone Systems at $70 a share.

ImClone’s board unanimously approved Lilly’s proposal and recommended shareholders tender their shares in the offer. Unless extended, the tender and any withdrawal rights to which ImClone’s shareholders might be entitled expire at midnight EST Nov. 20.