Elan Corporation PLC (ELN) Issues Response Document Further Detailing Inadequacy of Royalty Pharma's Revised Offer
6/3/2013 10:31:40 AM
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DUBLIN--(BUSINESS WIRE)--Elan Corporation, plc (NYSE: ELN) today issued a formal response document in respect of the Echo Pharma Acquisition Limited (Royalty Pharma) revised offer made on May 23, 2013. The response document is available on Elan’s website at www.elan.com. The response document details why Elan believes Royalty Pharma’s current offer of $12.50 per share substantially undervalues Elan, and how Elan’s recently announced transactions further widen the gap between Royalty Pharma’s undervalued offer and the fair value of Elan shares.
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