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Pfizer May Bid for Elan - 500 Beiträge pro Seite

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Nach Bristol Meyers nun ein neuer Interessent: ;)

Pfizer May Bid for Elan

Shares of drug maker Elan Corp. (NYSE:ELN) are up over 5% today on rumors that biotech giant Pfizer (NYSE:PFE) may make a bid for the company. Earlier this week, reports surfaced that Bristol-Myers Squibb (NYSE:BMY) was interested in purchasing a stake in Elan which were later refuted in a UBS report and it was subsequently reported that although talks began in April, they never progressed beyond early stages. No official comments have been made.

Your First Move For Friday June 5th

Pete Najarian thinks Elan [ELN 7.82 0.37 (+4.97%) ] is a buy.


After hours 8,04 $ :yawn:
5-Jun-09 08:16 pm PFE is going to buy the whole ball of wax. The talks with Bristol were done to flush PFE out and scare them to death that they might lose the crown jewel of all drugs in the pipeline. Now that PFE will have all of ELN look for PFE to become a very profitable company! BIIB will be left with he crumbs!!!!!!!!!!!!!!!!!!!!!!!! Price of buyout will be between 10-11!!!!!!!!!! Shorts will be caught with their pants down!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Eine Meinung aus dem Yahoo-Board. Wäre interessant, woher die Kollegen ihre Informationen haben.

Elan chief could bag €4.25m windfall
Ken Griffin

Elan chief Kelly Martin could receive 'career transition assistance' of up to €4.25m if the drug company is sold
ELAN chief executive Kelly Martin could be in line for a severance pay-off of up to €4.25m if the Irish drug company, which is at the centre of intense takeover speculation, is sold to a competitor.

In the past week, unconfirmed reports have claimed that both Pfizer and Bristol Myers Squibb are interested in acquiring a stake in the company with a view to taking overall control at a later date.

Martin's severance package includes a "career transition assistance" programme under which Elan is obliged to provide its former chief executive with a free office and secretary for up to three years. The company must also provide Martin with free health cover until he finds a new job or offer him a lump sum equivalent.

Martin has a special "change of control" severance package written into his contract.

The package specifies that Martin will immediately receive three years' worth of annual salary and bonuses from the company. Martin waived his bonus last year but was paid a total of €1.95m in 2007.

Martin's contract indicates that this enhanced severance deal applies if he is ousted within two years of the company being taken over. It also applies if he is removed from office and Elan subsequently gets taken over within the following six months.

An Elan spokeswoman said that Martin's contract was modelled on a standard US-style chief executive's contract.

"The termination clauses including those arising on termination following a change-of-control reflect US practice for a chief executive position," she said.

http://www.tribune.ie/business/news/article/2009/jun/07/elan…" target="_blank" rel="nofollow">http://www.tribune.ie/business/news/article/2009/jun/07/elan…

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