Elan Drops Suit After Royalty Opens Up On $8B Hostile Bid

Law360, New York (June 10, 2013, 8:37 PM EDT) -- Elan Corp. PLC dropped a lawsuit in New York federal court Monday after getting what it wanted — more information from hostile bidder Royalty Pharma Inc. about what happens if Royalty succeeds in its $8 billion takeover attempt.

Royalty on Friday filed additional disclosures with the U.S. Securities & Exchange Commission about its plans for Elan, should its tender offer pick up a majority of the Irish drug company's shares.

The disclosures, which came ahead of a preliminary injunction hearing set for Tuesday, shed some light...
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