Sunday July 5, 2020

Royalty halts review, says Elan offer has lapsed

Royalty Pharma’s offer had been contingent on investors rejecting all transactions proposed by Elan management, according to a ruling by the Irish Takeover Panel.

18th June, 2013

Royalty Pharma has withdrawn its request for a judicial review of the ruling that forces it to lapse its takeover offer for Elan under certain conditions, and has confirmed that its offer has now lapsed.

Elan shareholders yesterday narrowly approved the company's plan to buy back shares.

Elan's management has indicated that they would be agreeable to an offer in a range of $15 to $20, but only from a "high taxpaying suitor", wrote an...

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