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ImClone set to be acquired by Eli Lilly for $6.1 bln: sources


    BOSTON (Reuters) - ImClone Systems Inc has agreed to be acquired by Eli Lilly and Co for about $6.1 billion after rebuffing a sweetened takeover offer from Bristol-Myers Squibb, sources familiar with the situation said on Monday.

    The agreement, which values ImClone at $70 per share, has been approved by the boards of both ImClone and Eli Lilly, sources said.

    The merger pact includes a so-called "no shop" provision that prevents ImClone from actively soliciting superior offers, sources said.

    ImClone and Eli Lilly could not be immediately reached for comment.

    (Reporting by Toni Clarke; Writing by Jessica Hall; Editing by Kim Coghill)