Royalty pursuing hostile bid for Elan, fights Irish panel ruling

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Royalty pursuing hostile bid for Elan, fights Irish panel ruling

NEW YORK (Reuters) - Royalty Pharma, pursuing a hostile $8 billion takeover of Irish drugmaker Elan Corp Plc, moved on Tuesday to make sure it is not blocked by a potential $200 million share buyback and drug spinoff at the target company. Elan, which has been resisting the advances of the U.S. investment firm for more than three months, rejected a sweetened takeover offer on Monday and said for the first time that it was assessing inquiries from other parties. Royalty's new bid of $13 cash per share, plus an extra $2. ...

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