Elan Awarded Injunction against Royalty Pharma in Ireland

DUBLIN--(BUSINESS WIRE)--Elan Corporation, plc (NYSE: ELN) this afternoon (Irish time) received injunctive relief from the Irish High Court restraining Echo Pharma Acquisition Limited (Royalty Pharma's bid vehicle) from distributing to Elan's shareholders a proxy statement filed with the United States Securities and Exchange Commission at 10.18 p.m. (Irish time) on Friday 31 May 2013. Elan's complaint is that the proposed proxy statement fails to comply with a number of material disclosure requirements under the Irish Takeover Rules. The matter stands adjourned with the Irish High Court until 10.30 a.m. (Irish time) on Tuesday 4 June 2013.