Elan's shareholders (Elan Corporation, NYSE: ELN) were faced with a rigid choice in June 2013. Elan's management had four propositions on the table, management's effort to preserve itself against a hostile takeover from Royalty Pharma. Royalty Pharma was a private company, a private equity-owned collector of pharmaceutical and biotech royalties. If shareholders voted in support of some of the four initiatives, it would most likely kill Royalty Pharma's offer-and its guaranteed returns. That would authorize Elan to stay independent, and persist under the control of a management team generally considered as underperforming.
PUBLICATION DATE: December 01, 2013 PRODUCT #: TB0359-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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