The 2nd story:
Elan Exercises Option to Acquire Neuralab Limited
DUBLIN, Ireland, Nov. 29 /PRNewswire/ -- Elan Corporation, plc (NYSE: ELN - news; ''Elan'') today announced that it is exercising its option to acquire all of the outstanding common shares of Neuralab Limited (''Neuralab'') at a price of $61.01 per share payable in cash at an exercise cost to Elan of $76.3 million, pursuant to the purchase option granted by Neuralab in January 1998. The transaction is expected to close by January 31, 2000.
Neuralab was formed in August 1997 to fund a research and development program to identify therapeutic compounds for use in the treatment of Alzheimer's disease. After its formation, Neuralab was funded through a private placement of units consisting of one Neuralab common share, an initial warrant to purchase two Elan American Depositary Shares, and one secondary warrant to purchase two Elan American Depositary Shares. The initial warrants will continue to trade on the NYSE until January 14, 2003. Following the completion of the acquisition and under the terms provided, the secondary warrants will be cancelled.
Elan is a leading worldwide specialty pharmaceutical company headquartered in Ireland, with its principal research, development, manufacturing and marketing facilities located in Ireland, the United States and Israel. Elan shares trade on the New York, London and Dublin Stock Exchanges.
SOURCE: Elan Corporation, plc
|
