Irish Court Keeps Royalty's Hostile $8B Elan Bid Alive

Law360, New York (June 13, 2013, 1:48 PM EDT) -- Royalty Pharma Inc. got a win in Irish court Thursday that may keep alive its $8 billion hostile bid for Elan Corp. PLC even if Elan's shareholders vote to approve an alternate strategy, as they appear likely to do.

The Dublin court granted an injunction temporarily neutralizing a government takeover panel's earlier ruling that would have forced Royalty to withdraw its bid if Elan shareholders approve any of four proposals at a meeting set for Monday.

At least one of the proposals, a $200 million stock...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.