Klarman's Baupost Sells 2M Shares of Elan (ELN)
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Elan Corp (ELN) Could Be Worth $19 in a Takeout - Jefferies
June 18, 2013 7:11 AM EDTJefferies boosted its price target dramatically on takeover target Elan Corp (NYSE: ELN) from $14 to $19, while reiterating their Buy rating. The firm seeks to answer the 4 main questions on the minds of investors: (1) Who is going to buy ELN? (2) What is the price? (3) How long will the process take? and (4) Will a transaction actually get done?
Analyst Corey Davis comments:
"On Friday, management indicated that they had received "expressions of interest" in a potential acquisition of the company and... More
Royalty Pharma Calls News of Elan (ELN) Sales Process 'Frustrating Tactic'
June 14, 2013 1:40 PM EDTRoyalty Pharma notes today's announcement by Elan Corporation, plc (NYSE: ELN) that it intends to explore a sale of the Company. Royalty Pharma believes it to be a clear frustrating tactic that offers shareholders no certainty that a deal will ever be reached. Royalty Pharma calls on holders of ordinary shares to vote today AGAINST all four resolutions... 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
