Seeking Alpha
 

Elan Corporation, plc (ELN)

- NYSE
ELN is defunct.
  • Jul. 29, 2013, 9:16 AM
    | Comment!
  • Jun. 17, 2013, 7:17 AM
    Elan (ELN) flies 8.3% premarket after investors approve a $200M share repurchase plan, meaning Royalty Pharma's bid for the company has now lapsed, freeing Elan to seek other buyers. Also rejected is a deal with Theravance (THRX) and the acquisition of AOP Orphan Pharmaceuticals.
    | Comment!
  • Jun. 14, 2013, 3:07 PM
    Moody's revises its outlook on Elan (ELN +9.2%) to developing from stable. At the same time it affirmed its existing ratings including the Ba3 Corporate Family Rating, the Ba2-PD Probability of Default Rating and the SGL-1 Speculative Grade Liquidity rating.
    | Comment!
  • Jun. 14, 2013, 1:58 PM
    Royalty Pharma responds to Elan's (ELN +8.4%) announcement that it intends to explore a sale, saying it's a clearly frustrating tactic that offers shareholders no certainty that a deal will ever be reached. Royalty calls on shareholders to vote today against all four resolutions up for consideration, in order to preserve its formal offer for ELN.
    | 2 Comments
  • Jun. 14, 2013, 9:27 AM
    Elan (ELN) says that "in light of the expressions of interest" it will formally begin the process of a sale. Although Royalty Pharma "will be invited to participate, shareholders are urged not to tender into the current Royalty Pharma hostile offer," the company says. ELN +10% premarket. (PR)
    | Comment!
  • Jun. 13, 2013, 5:31 PM
    After-hours top gainers, as of 5:15 p.m.: RH +11%. SWHC +6%. PXLW +5%. OCN +4%. AVNR +3%.
    After-hours top losers: GCI -5%. LPX -3%. BEE -3%. ELN -2%. MTG -2%.
    | Comment!
  • Jun. 10, 2013, 2:52 PM
    Elan (ELN +1.5%) drops its lawsuit over Royalty Pharma's takeover after Royalty was was forced to revise its tender offer documents to provide significant amounts of additional information with the SEC late Friday afternoon.
    | Comment!
  • Jun. 7, 2013, 9:11 AM
    Premarket gainers: ROSG +16%. JKS +15%. IMUC +10%. NLST +8%. CBK +8%. GFA +7%. SNTA +7%. ELN +5%.
    Losers: FSGI -42%. TIVO -18%. IRM -15%. JRCC -14%. LAMR -9%. CPRT -8%. FRO -7%. EQIX -8%. OIS -8%.
    | Comment!
  • Jun. 4, 2013, 2:05 PM
    Institutional Shareholder Services is recommending Elan (ELN +0.6%) shareholders vote against several company proposals - including a $1B royalty-sharing agreement with Theravance (THRX -1.5%) and a $200M stock buyback program at ELN's June 17 special meeting. It withholds recommendation on the Royalty all-cash offer however, although it said voting against ELN's proposals "leaves the door open for shareholders to tender their shares if they so wish."
    | Comment!
  • May 29, 2013, 5:54 PM
    After-hours top gainers, as of 5:15 p.m.: NVE +23.9%. IQNT +6.4%. AVGO +3.9%. HIMX +3.9%. ELN +2.7%.
    After-hours top losers: UCO -9.1%. BWP -4.4%. IOC -4.1%. VNR -4.0%. NBN -2.4%.
    | 2 Comments
  • May 23, 2013, 1:25 PM
    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%.
    | 1 Comment
  • May 20, 2013, 1:42 PM
    Elan's (ELN +3.3%) board responds in boilerplate fashion to Royalty Pharma's sweetened offer to acquire the company, saying it will, as before, in line with its obligations under Irish Takeover law, assess the bid and advise its shareholders accordingly. In the meantime, ELN shareholders are strongly advised to take no action.
    | Comment!
  • Mar. 11, 2013, 9:29 AM
    Elan (ELN) +4.2% premarket after announcing Friday it will pay as much as $13/share, or a premium of 13% from Friday’s closing price, to buy back stock in a plan intended to reward stockholders who remain invested in the company following the sale of its Tysabri multiple sclerosis drug.
    | 1 Comment
  • Mar. 8, 2013, 5:37 PM
    After-hours top gainers, as of 5:15 p.m.: ELN +7%. THOR +3%. GAME +3%. TTI +2%. VELT +2%.
    After-hours top losers: RMBS -4%. LKQ -4%. EZPW -4%. MBLX -3%. CYS -3%.
    | Comment!
  • Feb. 22, 2013, 2:18 PM
    Elan (ELN +3%) says it's launching a $1B share buyback after it closes its restructuring deal with Biogen (BIIB) over Tysabri. The deal allows ELN to move from the current 50:50 business collaboration to an upfront payment of $3.25B and a double digit tiered royalty structure for the life of the complete Tysabri asset.
    | 1 Comment
  • Feb. 11, 2013, 12:04 PM
    Elan (ELN +1.1%) bounces back into the green after an early morning dip on the back of a UBS downgrade to Neutral. The firm cites a lack of visibility following its announcement that it's divesting a 50% stake in Tysabri to Biogen Idec (BIIB). The price target is also lowered to $10.06.
    | Comment!
Visit Seeking Alpha's
Company Description
Elan Corporation, PLC is a neuroscience-based biotechnology company, which operates its business in two areas BioNeurology and EDT.