Sard Verbinnen, FTI Help Irish Fend off Royalty

Tue., Feb. 26, 2013

By Kevin McCauley

elan Irish drug house Elan Corp. is using Sard Verbinnen & Co and FTI Consulting to bolster its takeover defense in the aftermath of a $6.6B offer from New York-based Royalty Pharma, an investment management company.

Elan’s board dismissed the “highly opportunistic timing” of the RP Feb. 25 announcement that was made a little more than two weeks after Elan wrapped up a $3.25B deal to sell a 50 percent stake in Tysabri, a multiple sclerosis drug, to Biogen Idec. It also noted that Elan has been working on a “number of strategic transactions” during the past year that will result in big returns for its public shareholders.

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