Loading...
Loading...
Royalty Pharma today announced, pursuant to Rule 2.5 of the Irish Takeover Rules (the "Announcement"), a firm intention to further increase its offer for Elan Corporation, plc
ELN to $13.00 per share in cash plus a contingent value right ("CVR") worth up to $2.50 per share. The CVR, based on feedback from Elan Shareholders, enables participation in the future upside of Tysabri including approval in secondary progressive multiple sclerosis and the achievement of certain sales milestones that are detailed further in section five of the Announcement which is available at www.royaltypharma.com.
"While Elan's Board and Management team appear to be solely focused on what we perceive to be increasingly desperate attempts to fend off Royalty Pharma's highly compelling offer, we have been carefully listening to shareholders and are pleased to revise our offer today based on their feedback," said Pablo Legorreta, Chief Executive Officer of Royalty Pharma. "Our increased offer
See full press release© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in