Elan Rejects Royalty's New Takeover Bid After Stock Buyback
Elan, which now has rejected three Royal Pharma offers, urged shareholders not to throw their support behind the latest bid.
"The offer from Royalty Pharma grossly undervalues Elan’s current business platform and our future prospects," Elan Chairman Robert Ingram said in a statement. "As a result the board unanimously and without reservation rejected the offer."
Royalty Pharma last...
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