Royalty Pharma’s Bid For Elan Corporation In DoubtMani
Elan Corporation, plc (NYSE:ELN) shareholders approved a share buyback program which would force Royal Pharma to end its unsolicited $6.7 billion takeover bid.
In the shareholders’ meeting at Dublin, Elan Corporation, plc (NYSE:ELN)’s shareholders voted in favor of a proposal to buy back $200 million in shares by using the proceeds of Elan’s sale to Biogen Idec Inc. (NASDAQ: BIIB).
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