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Elan Corporation PLC (ELN) Hands Victory to Perrigo Company (PRGO) After Brutal Battle


8/12/2013 7:35:33 AM

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It is fitting that an early hours statement, made on Monday July 29, could draw to a close an acrimonious five-month battle often played out via outbursts published first thing in the morning. The announcement made public an agreed deal by Perrigo, a US over-the-counter pharmaceutical specialist, for Irish biotechnology company Elan, which heralds the conclusion of a lengthy process involving no fewer than 12 advisers and lending banks and described by those close to the deal as ugly, aggressive and bruising. One of the advisers involved said: “It is certainly right at the end of the hostile scale.

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