Seeking Alpha

Johnson & Johnson (JNJ) tenders 107.4M Elan (ELN) shares at the strike price of $11.25 in...

Johnson & Johnson (JNJ) tenders 107.4M Elan (ELN) shares at the strike price of $11.25 in the latter's $1B stock buyback. The total number of shares tendered is 239.7M, of which Elan plans to purchase 76%. Elan is retiring 14.8% of the stock in issue as part of the repurchase plan. (PR)
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