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Royalty Pharma Announces Offer May Lapse (Be Withdrawn)
Date:6/13/2013

HARE REPURCHASE PROGRAM. 

  • While the deadline for holders of Elan American Depository Receipts held in street name to vote electronically through BroadRidge has passed, such holders may nevertheless vote or change their vote by asking their custodian, BroadRidge or proxy voting agent (ISS or Glass Lewis) to do so manually until 3 p.m. EDT today, Thursday, June 13.  Shareholders needing assistance in voting are urged to contact MacKenzie Partners, Royalty Pharma's proxy solicitor, at +1 212 929 5500.
  • Holders of Elan Ordinary Shares have until 10:00 a.m. Irish time on Saturday, June 15 to vote their proxies through Computershare (Ireland).

Royalty Pharma notes that Elan only publicly announced that it had received "unsolicited enquiries" three days ago, more than three months after Royalty Pharma's proposal first became public and only after it appeared to be gaining investor support.

There can be no assurance that Elan will conduct a sale process, that any sale process that is conducted will be conducted fairly, or that any proposal to acquire Elan will be presented to Elan Shareholders.

Even if Elan does conduct a sales process, given that Royalty Pharma's offer of $13.00 plus an up to $2.50 CVR has been deemed "grossly inadequate" by Elan, there can be no assurance that Elan will not conclude that all other offers they receive are "grossly inadequate".

IT IS EASY FOR ELAN TO RUN A SALE PROCESS THAT PRODUCES NO RESULT BECAUSE ELAN DEEMS ALL OFFERS INADEQUATE OR CONCLUDES THAT ANOTHER STRATEGIC ALTERNATIVE PRODUCES MORE VALUE.

THERE IS NO UNCERTAINTY REGARDING ROYALTY PHARMA'S CURRENT OFFER:  $13 IN CASH PER SHARE PLUS AN UP TO $2.50 CVR.  THERE IS SUBSTANTIAL UNCERTAINTY REGARDING ANY ALTERNATIVE PATH ELAN MAY PRESENT.

VOTE "AGAINST" ALL FOUR RESOLUTIONS OF THE ELAN EGM

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SOURCE Royalty Pharma
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3. Royalty Pharma Posts Investor Presentation Summarizing Further Increased Offer For Elan
4. Royalty Pharma Statement Regarding Withdrawal of Elan Lawsuit
5. Royalty Pharma Urges Elan Shareholders to Vote AGAINST ALL FOUR Elan Resolutions Today
6. Royalty Pharma Acceptances Announcement
7. Royalty Pharma Responds To Elans Tysabri Valuation
8. Royalty Pharma Response To Elans "Categorical View On Value"
9. Royalty Pharma Recommends Elan Shareholders vote "NO" on each of the Elan Resolutions at the Elan extraordinary general meeting
10. Royalty Pharma Issues Investor Presentation Highlighting The Strategic And Financial Advantages Of Its Offer To Acquire Elan For $12.50 Per Share In Cash
11. Royalty Pharma Discloses Acceptance Levels of Original Offer for Elan Pursuant to Irish and United States Regulatory Requirements
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