Elan Corporation plc (ELN) announced that, at its Extraordinary General Meeting, shareholders approved the share repurchase program. Elan shareholders did not approve the Theravance Transaction, the AOP Transaction or the ELND005 Transaction.
The company said, as its shareholders have approved the share repurchase program, and in accordance with the terms of the Royalty Pharma Offer, the Royalty Pharma Offer has now lapsed.
Elan invited Royalty Pharma to participate in the formal sale process, and to bring forward a new offer should it so desire.
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