Royalty Pharma Warns of Job Cuts if Elan Corporation PLC (ELN) Bid Accepted
5/6/2013 7:54:05 AM
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New York investment firm Royalty Pharma has warned there could be job cuts in the Irish drug firm Elan if Royalty is successful in its €4.3bn takeover bid for the company. Royalty Pharma said last week it would review the Irish drugmaker's operations if its multi-billion dollar offer is accepted. "It is Royalty Pharma's expectation that its review may result in a reduction in employee headcount at Elan over time," says Royalty in its offer document. "Until such a review occurs, Royalty cannot be certain what repercussions there will be on management and employees of the combined group, or the location of Elan's places of business or any redeployment of Elan's assets."
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