Royalty Pharma has let its latest takeover bid for Irish drugmaker Elan lapse as it decided against pressing ahead with a court challenge of a requirement that it withdraw the offer.
Shareholders of Irish drugmaker Elan Corp. PLC have potentially ended a takeover bid from Royalty Pharma by voting in favor of an Elan share buyback plan.
Shares of Elan Corp PLC jumped Friday after the Irish drugmaker said it will explore a possible sale of the company while its board continues to fend off a hostile takeover bid from Royalty Pharma.
Irish biotechnology company Elan rejected on Monday the latest takeover bid from US group Royalty Pharma worth about $7.9 billion (6.0 billion euros).
Irish drugmaker Elan Corp.'s fight against a takeover bid by Royalty Pharma has spilled into U.S. federal court, where a judge has issued a temporary restraining order preventing Royalty from completing its offer to buy the ...