Login to Your Account

Royalty Pharma Bids $6.6B for Elan, but Is it a Fair Offer?

By Cormac Sheridan
Staff Writer

Monday, February 25, 2013

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.

To continue reading subscribe now to Latest News

Learn More about Latest News

Already a subscriber? Sign In or Buy now to activate your subscription