Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Elan Corporation, plc (“Elan”) (NYSE: ELN) to Perrigo Company for shareholders. Under the terms of the proposed merger agreement, valued at approximately $6.7 billion, Elan shareholders will receive consideration of approximately $16.50 based upon Friday’s closing price. The offer consists of $6.25 in cash plus 0.07636 shares of New Perrigo for each share of Elan stock owned, well below at least one analyst’s estimated value of $19.00.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607 or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Elan sale investigation centers on whether shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction properly values Elan stock, and whether Elan’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. At least one analyst with Yahoo! Finance estimates that the true inherent value of Elan could be as high as $19.00 per share, well above the proposed sale price.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.