Activartis, AOP Orphan, Elan, Royalty Pharma deal

Royalty withdrew a request for judicial review of a decision by the Irish Takeover Panel regarding its offer to acquire Elan, ending a four-month public spat between the companies. Royalty was seeking to acquire Elan for $13 per share in cash plus a contingent value right (CVR) worth up to $2.50, which would have valued Elan at up to $7.9 billion. Royalty's decision officially ends its hostile bid to acquire Elan, though Elan on June 14 announced a formal sales process and said its financial advisors contacted Royalty's financial advisors to invite Royalty to participate in the process. ...