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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (3642)11/22/2002 7:46:40 PM
From: John Metcalf  Read Replies (1) | Respond to of 10345
 
Apparently, both these announcements were made at 4:30 EST, after the markets closed for the weekend. Considering that it was 9:30 p.m. Friday in Ireland, the company must have planned for after-the-close news. Those holding short positions have two days to worry. With the Ligand deal, Elan has added $500 mm in cash in a very short period of time, and they may have removed some Dec '03 cv bonds from the market.

worry worry worry -- it looks like they'll survive-:)



To: scaram(o)uche who wrote (3642)11/22/2002 8:24:20 PM
From: scaram(o)uche  Read Replies (1) | Respond to of 10345
 
Ugh, it was in the release itself.......

"As at September 30, 2002 the carrying value of Elan's remaining stockholding in the Athena Diagnostics business amounted to $26.0 million."

So, as book goes down for epil guarantees, it's going up fast for hard assets.

Sincerely blind,

Rick


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