NEW YORK (AP) ? Shareholders of Irish drugmaker Elan Corp. PLC voted in favor of a share buyback but rejected three separate deals its board has pushed instead of a takeover offer from Royalty Pharma.
The approval of the buyback ends the acquisition offer from Royalty Pharma. However, Royalty is fighting that decision by Irish regulators in court. Royalty offered $13 per share plus $2.50 per share in performance-based payments for Elan.
Elan, based in Dublin, announced last week that it would explore selling the company after it became clear that shareholders would reject the three deals. They included purchasing a share of the royalties for four drugs from Theravance Inc., as well as acquiring Austrian drug developer AOP Orphan.
Royalty, based in New York, on Monday urged Elan's board to negotiate for a sale.
Source: http://news.yahoo.com/elan-holders-ok-buyback-vote-down-3-deals-105235086.html
russell wilson Pokemon nhl jillian michaels Freddy E NHL lockout Honey Boo Boo
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.