Following the denial of an acquisition offer from Royalty Pharma on April 22 equal to $11.25 a share, or less, for all of Elan's (NYSE: ELN ) outstanding shares, a revised offer from Royalty of $12.50 a share has also been rejected, Elan announced today.
In its statement, Elan commented that the reason the board of directors unanimously agreed to reject Royalty's bid was because it "substantially undervalues the company." Elan shareholders will receive a circular and a notice of an "Extraordinary General Meeting (EGM)" that will be held on June 17, 2013. Until the EGM is held, Elan shareholders are, "strongly and unequivocally advised to take no action" on Royalty's acquisition offer, according to the press release.
In response to Royalty's bid, Elan chairman of the board Robert Ingram said, "This offer is no more than an opportunistic attempt to acquire our company at a substantial discount at our Shareholders' expense."
Top Healthcare Technology Stocks To Own Right Now: MARSTON`S PLC ORD GBP0.07375(MARS.L)
Marston?s PLC engages in operating managed, tenanted, and leased public houses; brewing beer; and wholesaling beer, wines, spirits, and soft drinks in the United Kingdom. The company operates approximately 2,150 pubs and bars in England and Wales comprising 1,650 tenanted or leased pubs and approximately 500 managed pubs. It also brews various ale brands, including Marston's, Banks's, Brakspear, Duchy Originals, Jennings, Mansfield, Ringwood, and Wychwood. The company was formerly known as Wolverhampton & Dudley Breweries PLC and changed its name to Marston?s PLC in January 2007. Marston?s PLC was founded in 1834 and is based in Wolverhampton, the United Kingdom.
Top Healthcare Technology Stocks To Own Right Now: Tecumseh Products Company(TECUA)
Tecumseh Products Company manufactures and sells hermetically sealed compressors. The company offers air conditioning and refrigeration compressors, as well as condensing units, heat pumps, and refrigeration systems. Its products are used in commercial refrigeration applications, including walk-in coolers and freezers, ice makers, dehumidifiers, water coolers, food service equipment and refrigerated display cases, and vending machines; household refrigerators and freezers; and residential and specialty air conditioning and heat pumps comprising window air conditioners, packaged terminal air conditioners, and recreational vehicle and mobile air conditioners. The company also produces variable speed compressors for use in military, medical, telecommunications, aircraft, transportation, and automotive applications; sub-assemblies, such as indoor and outdoor condensing units, and multi-cell units; and refrigeration systems. It markets compressor and condensing unit products un der the Tecumseh, L?Unit�Herm�ique by Tecumseh, Masterflux by Tecumseh, Silensys by Tecumseh, Celseon, and Vector brand names. The company sells its products through its sales staff, as well as through independent sales representatives to original equipment manufacturers and authorized wholesale distributors in North America, South America, Asia, Europe, the Middle East, and Africa. Tecumseh Products Company was founded in 1930 and is headquartered in Ann Arbor, Michigan.
Top Sliver Stocks To Watch Right Now: SoundBite Communications Inc.(SDBT)
SoundBite Communications, Inc., together with its subsidiaries, provides cloud-based, multi-channel services enabling businesses to design, execute, and measure customer communication campaigns for various marketing, customer care, payment, and collection processes. It offers the SoundBite Engage and SoundBite Insight platforms to communicate with customers through automated voice messaging, predictive dialing, text, email messages, and Web communications. The company?s multi-channel communications platform, SoundBite Engage, enables clients to design, execute, and measure customer communications across the customer lifecycle; and preference management platform, SoundBite Insight, helps businesses design relevant and targeted customer communications strategies. It also provides a range of client management services, including script development, campaign strategy, professional voice talent recording, custom reporting, and detailed analysis of campaign results. The company offers its services through its direct sales force to business-to-consumer companies in the energy and utilities, financial services, consumer package goods, retail, and telecommunications and media industries in the United States and Europe. SoundBite Communications, Inc. was founded in 2000 and is headquartered in Bedford, Massachusetts.
Top Healthcare Technology Stocks To Own Right Now: Cougar Energy Ltd(CXY.AX)
Cougar Energy Limited engages in the identification and development of projects using underground coal gasification (UCG) technology primarily in the People?s Republic of China, Mongolia, and Indonesia. The UCG process converts coal in situ into a combustible gas that can be used as a fuel or a chemical feedstock. The company?s flagship operation is the 400 megawatt Kingaroy Power Station project in central Queensland, Australia. It also owns interests in the Wandoan project in the Surat Basin in Queensland; and the MacKenzie project covering an area of 2,380 hectares in Queensland, Australia. The company was founded in 2006 and is based in Melbourne, Australia.
No comments:
Post a Comment