Royalty Pharma Bids $6.6B for Elan, but Is it a Fair Offer?
DUBLIN, Ireland Shares in Elan Corp. plc (NYSE:ELNrose 5 percent to $11.14 Monday in response to an indicative $11 per-share takeover offer from Royalty Pharma.
Although Dublin, Ireland-based Elan issued a critical response to the offer, which represents a 4 percent premium to its closing share price Friday, it was not an outright refusal. The investor response suggested there is an appetite in the market for an exit. The company is now in play.
Suite: 1100 | Atlanta, Georgia 30346, USA
Outside of the US
In the U.S. and Canada: +1-800-336-4474
Outside the U.S.: +44-203-684-1796
Hours: Monday - Friday, 8:00am - 6:00 pm EST
Sign up for Highlights FREE e-mail newsletter