Ashurst advised J.P. Morgan and BofA Merrill Lynch as financial advisers to US investment firm Royalty Pharma on the cash offer for the entire issued and to be issued share capital of pharmaceutical group Elan Corporation plc.

The offer price is up to US$12 per Elan share including each Elan share represented by an Elan ADS, dependent on the outcome of a Dutch auction.

The Ashurst team is being led by corporate partners Adrian Clark and Karen Davies, assisted by associates James Fletcher and Chris Phillips. Partner Tim Rennie is advising on finance aspects, assisted by senior associate Ross Ollerhead. Mason Hayes & Curran advised the financial advisers on Irish law aspects.

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