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Biotech / Medical : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: caly who wrote (1686)	9/24/2001 4:59:43 PM
From: caly	Respond to of 2515

From the filing just released: MR. LYNCH: The tender offer should be launched within the next week, we expect - week to ten days, and it will be open for 20 business days and essentially any shareholder would decide what proportion of their existing ownership that they would tender. Once that is determined from each shareholder then the total tendered would be pro rated to come up to the 14.4 that was determined to be the 19.9% and as I stated earlier that would include the options that were conditionally exercised. So, in theory, if every single shareholder tendered all of their shares that they own, leaving aside for a second the conditional exercise, then every shareholder would be selling 19.9% of their holdings to Bristol for $70 in cash. ragingbull.tenkwizard.com