Market Overview

Elan Advises Shareholders to Withdraw Acceptance of Royalty Offer

Elan Corporation, plc (NYSE: ELN) (Elan or the Company) today advises
Elan Shareholders to withdraw any acceptances of Royalty Pharma's Offer
without delay and not to tender any further acceptances. Following the
outcome of the Elan EGM yesterday morning, and in accordance with the
terms of the Royalty Pharma Offer, the Royalty Pharma Offer has now
lapsed*.

Withdrawal of acceptances of the Royalty Pharma Offer will ensure that
Elan Shareholders are in a position to participate in the benefits of
the formal sale process which has now commenced. Elan's financial
advisers contacted Royalty Pharma's financial advisers over the weekend
of 15/16 June for the purpose of inviting Royalty Pharma to participate
in that process.

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global

 

Related Articles (ELN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional