Elan Sweetens Deal To Counter $6.6B Takeover Bid

Law360, New York (March 4, 2013, 2:23 PM EST) -- Irish life sciences firm Elan Corp. has sweetened its offer to shareholders to remain invested in the company, offering a percentage of Elan's share of royalties from a new drug if investors vote against a $6.6 billion hostile takeover attempt by pharmaceutical investment firm Royalty Pharma LLC, Elan said Monday.

The move would unlock uncapped future royalty revenues for shareholders of Elan, which is trying to fight off a takeover bid by Royalty Pharma. Elan said it would give a percentage of its royalties from Tysabri,...
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