Royalty Pharma attempts to buy Elan for $6.6bn in cash; withdrawn
Executive Summary
Prompted by the recent restructuring of public Irish drug firm Elan Corp. PLC’s collaboration with Biogen Idec Inc. over the multiple sclerosis antibody Tysabri (natalizumab), Royalty Pharma (also known as RP Management LLC, an entity that acquires royalty interests in marketed drugs and late-stage candidates) is proposing to buy Elan for $6.6bn, or $11 per share (a 6% premium). Elan responded saying it would evaluate any credible proposal alongside other potential strategic transactions.
Deal Industry
- Pharmaceuticals
Deal Status
- Withdrawn
Deal Type
-
Acquisition
- Buy-out
- Full Acquisition
- Payment Includes Cash
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