Elan shareholders unimpressed with deals, but love the buyback

Elan's ($ELN) shareholders rejected a string of CEO Kelly Martin's deals today but did green-light a share repurchase pact--which the biotech says will put the hex on Royalty Pharma's hostile $8 billion offer for the company. The hostile bid, though, was already being reconsidered at the end of last week when Elan's board decided to formally put the company on the auction block, inviting Royalty to take a seat at the bidding table. Report

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