Elan secures temporary block on Royalty bid

Elan has won an order from a US judge temporarily blocking Royalty Pharma from attempting a $6.4 billion hostile takeover of the company after Elan sued to halt what it called a “coercive” tender offer.

4th June, 2013
Elan: temporary block

Elan has won an order from a US judge temporarily blocking Royalty Pharma from attempting a $6.4 billion hostile takeover of the company after Elan sued to halt what it called a “coercive” tender offer.

US District Judge William Pauley in Manhattan yesterday issued a temporary restraining order blocking Royalty and related parties from “consummating or closing defendants’ tender offer” for the outstanding shares of Elan.

Pauly set a hearing for...

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