Elan says gets rival approaches, holds out for $15.50 per share cash

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Elan says gets rival approaches, holds out for $15.50 per share cash

By Sophie Sassard LONDON (Reuters) - Ireland's Elan has attracted the interest of a number of mid-sized drug companies and a cash offer of $15.50 per share could be enough to secure its support for a bid, a source with direct knowledge of the situation said on Monday. Elan, which has resisted an approach from investment firm Royalty Pharma for more than three months in a bitter takeover battle, rejected an increased offer from the U.S. firm on Monday and said for the first time it was assessing enquiries from other parties. Royalty's third increased bid of $13 cash per share plus an extra $2. ...

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