Elan forsaken by Royalty despite shareholder snub
This article was originally published in Scrip
Royalty Pharma has abandoned its hostile takeover bid of Elan, which could have been worth up to $8bn ($13 per share plus up to $2.50 in contingent value rights). It announced today (18 June) that it had dropped its request for a judicial review of an Irish Takeover Panel ruling that it must lapse its offer if any of four agenda items at Elan's EGM held yesterday were approved.
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