Royalty Pharma Calls News of Elan (ELN) Sales Process 'Frustrating Tactic'
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Klarman's Baupost Sells 2M Shares of Elan (ELN)
June 18, 2013 6:54 AM EDTSeth Klarman's Baupost Group filed 8.3 paperwork on takeover target Elan (NYSE: ELN) under Irish takeover law. The hedge fund showed a 7.1 million share stake, or 1.39% of the outstanding shares. This is down from the 9.1 million share stake held at the end of the last quarter.... More
Moody's Adjusts Outlook on Elan (ELN) from Stablet to Developing; Affirms Ratings
June 14, 2013 2:28 PM EDTMoody's Investors Service revised the outlook on Elan Corporation, plc (NYSE: ELN) to developing from stable. At the same time Moody's affirmed Elan's existing ratings including the Ba3 Corporate Family Rating, the Ba2-PD Probability of Default Rating and the SGL-1 Speculative Grade Liquidity rating.
Ratings affirmed:
Elan Corporation, plc:
Ba3 Corporate Family Rating
Ba2-PD Probability of Default Rating
SGL-1 Speculative Grade Liquidity Rating
Elan Finance, plc:
Ba3 (LGD4, 65%) senior unsecured notes
... More
Biogen (BIIB) Might Buy Remaining Interest in Tysabri from Elan (ELN)
June 14, 2013 12:50 PM EDTThis morning it was learned that Elan Corporation, plc (NYSE: ELN) is proceeding with a formal sale process in light of the "expressions of interest received to date." In the view of RBC analyst Michael Yee, Biogen (NASDAQ:... More
Elan Corp. (ELN) to Proceed with Sale; Invites Royalty Pharma to Participate
June 14, 2013 9:17 AM EDTElan Corporation, plc (NYSE: ELN) (Elan or the Company) today announced that it is proceeding with a formal sale process in light of the expressions of interest received to date. As part of this process, Royalty Pharma will be invited to participate if they so... More
Johnson & Johnson (JNJ) Unloads Entire Elan (ELN) Stake; Says Not Tied to Royalty Pharma Bid
June 14, 2013 6:51 AM EDTJohnson & Johnson (NYSE: JNJ) (J&J) has sold about 25.4 million Elan Corp (NYSE: ELN) shares nearly four years after its initial investment in the company.
Bloomberg notes that J&J purchased an 18 percent stake in Elan for $1 billion... More
