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The Board of Elan Corporation, plc
(the Company) acknowledges this
morning's statement by Royalty Management, LLC (Royalty Pharma). Elan's
position remains as outlined on February 25, 2013:
* The “proposal” by Royalty Pharma remains an indication of interest, is
highly conditional and may or may not lead to an offer being made for the
entire issued share capital of the Company.
* The highly conditional indication of interest is opportunistic in its
timing.
* Any credible proposal which may be made by Royalty Pharma or any other
party will of course be considered by the Company alongside the strategic
transactions and unique investment thesis referred to in our recent
announcements in February 2013.
Further announcements and business updates by the Company will be made as
appropriate.
The Directors of Elan accept responsibility for the information contained in
this announcement. To the best of their knowledge and belief (having taken all
reasonable care to ensure such is the case), the information contained in this
announcement is in accordance with the facts and does not omit anything likely
to affect the import of such information.
Any holder of 1% or more of any class of relevant securities of Elan or of
Royalty Pharma may have disclosure obligations under Rule 8.3 of the Irish
Takeover Panel Act, 1997, Takeover Rules 2007 (as amended).
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