A takeover bid for Irish Dublin-headquartered pharma company Elan is unlikely to be accepted, according to one analyst.
Jefferies analyst Corey Davis said today that the $11 a share offer from Royalty Pharma was unlikely to succeed given that Elan itself has a close to $4 billion dollar war chest for M&A activity itself.
Elan has already said that it plans to make acquisitions with the $3.25 billion it will receive from selling its stake...
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