3 Merger and Acquisitions Stock Stories For a Thursday Appraisal

Elan Corporation (NYSE:ELN): Current price $12.39

On Thursday, Elan announced that its board as decided that the privately-held investment firm Royalty Pharma’s revised offer as of May 20, to purchase all of Elan’s shares at $12.50 through its shell subsidiary Echo Pharma Acquisition Limited, substantially undervalues the firm. Elan Chairman Robert A. Ingram commented that “the revised offer from Royalty Pharma continues to grossly undervalue our company’s current business platform and our future prospects. This offer is no more than an opportunistic attempt to acquire our company at a substantial discount at our Shareholders’ expense. Put simply, for Royalty Pharma to win, you our Shareholders must lose. Accordingly, the Board unanimously and without reservation rejects the revised Royalty Pharma offer.”

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ELN

BioTime (NYSE:BTX): Current price $4.23

BioTime said on Thursday that at a special meeting held on Tuesday, its shareholders okayed the proposals connected with the planned purchase of stem cell-related assets from Geron Corporation (NASDAQ:GERN) by its subsidiary Asterias Biotherapeutics. Each of the proposals received a minimum of 32,459,164 votes in favor from the 34,450,307 shares that were represented and voted, in person or by proxy, at the meeting. More information in regards to the proposals approved at the meeting and the vote totals can be found in a Form 8-K that BioTime has filed with the U.S. Securities and Exchange Commission.

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BTX

Fidelity National Financial (NYSE:FNF): Current price $25.77

Title insurer Fidelity National and the buyout firm Thomas H. Lee Partners are reportedly in advanced discussions to acquire Lender Processing Services (NYSE:LPS) for roughly $2.9 billion, say persons familiar with the matter. The purchase would bring Lender Processing Services back in the fold of Fidelity National Financial, which was once its parent. Through the terms being discussed, the buyers would fund the transaction with a mixture of cash and Fidelity National Financial stock, and the acquisition would value Lender Processing Services shares by about $33, according to some of the sources.

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FNF

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