Elan Corp (ELN) Hires Citigroup To Review Strategic Alternatives
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Elan Corporation, plc (NYSE: ELN) said its Board of Directors has engaged Citigroup Global Markets Inc. to conduct, in conjunction with executive management and other external advisors, a review of the Company's strategic alternatives.
Elan said the goal is to secure access to the necessary financial resources and commercial infrastructure to allow Elan to accelerate the development and commercialization of its extensive pipeline and product portfolio while maximizing the ability of its shareholders to participate in the resulting longer term value creation. The range of alternatives that will be assessed could include minority investment or strategic alliance, a merger or sale.
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