Elan Mulls Royalty Pharma Takeover and 2 Other Hot Stocks to Watch
Elan Corporation (NYSE:ELN): Current price $13.36
On Friday, Royalty Pharma announced, through Rule 2.5 of the Irish Takeover Rules, its intention to further raise its offer for Elan Corporation to $13 per share in cash, alongside a contingent value right worth as much as $2.50 per share. Elan’s board acknowledged the revised offer, and said that it will as before assess the Royalty Pharma announcement, and advise its shareholders accordingly. Meanwhile, Elan shareholders are strongly advised to take no action regarding the offer.