Royalty Pharma ups Elan offer to $12.50

UPDATE: Royalty Pharma is to increase its offer price for Irish-headquartered Elan to $12.50 per share in cash. Elan said it will assess the new bid.

20th May, 2013
Elan rejected a previous Royalty Pharma offer.

Royalty Pharma is to increase its offer price for Irish-headquartered Elan to $12.50 per share in cash.

The increased offer, up from the $11.25 a share rejected by Elan last month, is fully financed, cash confirmed and not conditional on due diligence, the company said.

Royalty said that its new offer values Elan’s Tysabri royalty at $4.6 billion, a 42 per cent premium to the $3.25 billion at which Elan sold approximately half of its interest in...

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