Icahn to Boost ImClone Stake

Shares of ImClone Systems advanced after hours following the company's announcement that corporate raider Carl C. Icahn plans to increase his holdings. If he buys the maximum amount permitted by the Federal Trade Commission, he could become the biggest shareholder of the New York biotechnology concern. ImClone's stock jumped $1.79, or 5.9 percent, to $31.95 in after-hours trading. Icahn's plans aren't completely clear because the ImClone announcement only says that he has received clearance from the Federal Trade Commission to purchase between $100 million and $500 million in ImClone stock, "when taken in the aggregate with shares already held, of ImClone Systems' common stock." The announcement was made after markets had closed.

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