Perrigo Co is now in a waiting game as it waits for the decision regarding the acquisition of Elan Corp.
Royalty Pharma
Breaking News
Royalty Pharma held internal discussions about making a new bid for Elan Corp according to four sources.
On Monday, Elan shareholders approved a share buyback and put itself up for sale on Friday.
Elan CEO Kelly Martin's future employment with the upcoming shareholder vote.
Elan is at risk of losing US$2 billion market value once Royalty Pharma walks away with its takeover deal.
Elan rejects the newest bid from Royalty and seeks to look at other unsolicited interested parties.
Royalty Pharma urged the federal court in New York to lift the temporary restraining order it has ordered for the Royalty-Elan bid.
Royalty Pharma raised its hostile bid for Irish drug firm, Elan from US$12.50 to US$13.
Royalty Pharma offers US$11 per Elan share.
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