Bristol-Myers Squibb is offering $4.5 billion for ImClone Systems, the drug maker controlled by Carl Icahn. [Dealbook]
Deutsche Bank announced second-quarter profit fell 64 percent thanks to more than $3.6 billion in writedowns. [Bloomberg]
One of the Credit Suisse brokers at the center of a fraud investigation may have fled the U.S. for his native Bulgaria. [WSJ]
CBS plans to sell 50 mid-size radio stations in its portfolio. [WSJ]
Cadwalader, Wickersham & Taft announced that it is laying off 96 lawyers in the U.S. and Britain "due to continued slowness in real estate finance and securitization, the firm's core practices." [Dealbook]
Google is planning to start a venture-capital arm. The unit will be headed by David Drummond, Google's senior vice president of corporate development and chief legal officer. [WSJ]
