Seth Klarman's Baupost Takes Profit On Stake In Elan Corp

As Elan Corporation, plc (NYSE:ELN) and private investment firm Royalty Pharma were sparring over who got to buy Elan, Seth Klarman's Baupost Group decided to take some profits on its investment in the biotechnology company. According to regulatory filings made with the Irish authority, Baupost has slashed its stake in Elan Corporation, plc (NYSE:ELN) from 9.1 million shares to 7.1 million shares. The ownership only represents a 1.39 percent position in Elan Corporation, plc (NYSE:ELN) and the regulatory filing was enforced because Elan is currently a takeover target.