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Forest Laboratories, Inc. (FRX) Mulls Bid for Elan Corporation PLC (ELN) - Sources


6/20/2013 7:04:14 AM

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Forest Laboratories Inc, the specialty drugmaker that counts investor Carl Icahn as a major shareholder, is among a handful of companies interested in bidding for Irish drugmaker Elan Corp Plc, two people familiar with the situation said. Elan, which has a market capitalization of nearly $7 billion, put itself up for sale last week in an effort to fend off a hostile offer from U.S. investment firm Royalty Pharma. Forest is among several mid-sized drugmakers considering an offer for Elan, the people said on Wednesday. They asked not to be named because details of the auction have not been made public. The discussions are at an early stage and Forest may decide against making an offer, the people cautioned.

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