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Elan's (ELN +3%) board has rejected the sweetened takeover bid from Royalty Pharma, saying it...

Elan's (ELN +3%) board has rejected the sweetened takeover bid from Royalty Pharma, saying it "continues to grossly undervalue" the company, with board chairman Robert Ingram adding that it's "no more than an opportunistic attempt to acquire our company at a substantial discount at our shareholders' expense." It urges shareholders to reject the offer, noting also that it's reducing the acceptance threshold to 50% plus one share from 90%.
Comments (1)
  • mwphnh
    , contributor
    Comments (40) | Send Message
     
    kelly martin is engaging in jobs preservation. Vote no on all the acquisitions and lets sell this company top RP or whomever bids the most. Management could care less about shareholders. The Theravence deal was awful. They paid a billion dollars for a 21% royalty on only four drugs for a company whose total mkt cap at the time was only 3.5 billion dollars! How is that defensible?
    23 May 2013, 01:38 PM Reply Like
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