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. Elan Corporation’s Shareholders In Favor Of The Proposal 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). Elan Corporation, plc (NYSE:ELN) earlier agreed to sell its stake in multiple sclerosis drug Tysabri to biotech company Biogen Idec Inc. (NASDAQ:BIIB) for $3.25 billion in upfront payment. Tysabri is Elan’s only…
Royalty Pharma’s Bid For Elan Corporation In Doubt
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports