Elan offers special dividend to fend off Royalty

[riky]

Elan offers special dividend to fend off Royalty

DUBLIN/NEW YORK (Reuters) - Irish drugmaker Elan has sweetened the terms on offer to shareholders under a $3.25 billion disposal plan to try to stave off an approach for the company from U.S. investment firm Royalty Pharma. Elan said on Monday it would give shareholders 20 percent of future royalties from multiple sclerosis drug Tysabri, in which it holds a 50 percent interest that it plans to sell to its U.S. partner Biogen Idec. The Irish group had unveiled the restructuring a month ago, saying it would gain flexibility to buy new assets. ...

Source: You are not allowed to view links. Register or Login