Elan shares - what happens next?

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I own Elan shares. I don't hold them in paper form. They are held in an electronic custody account.

As a result, I don't get anything in the post about the Perrigo acquisition, etc.

What I think will happen is:

If I don't sell myself, then at some stage Perrigo will pay me for all my shares.

They will pay me in a mixture of USD and shares in Perrigo.

Is that correct?

Am I better off selling now into the general market, or waiting to be paid direct?

Does anybody know much about how this will work?
 
I'll answer my own question, for the benefit of other Elan shareholders.

Meetings / EGM were held on Mon 18-Nov to ask s/h to approve of the scheme to allow Perrigo take over Elan and so form New Perrigo.

A large majority of s/h accepted.

See the press release here:

http://newsroom.elan.com/phoenix.zhtml?c=88326&p=irol-newsArticle&ID=1877748&highlight=
 
I then rang Elan in Dublin, but didn't expect much attention, as I am a tiny s/h in a billion dollar business.

A nice man rang me back!

The scheme now must return to the High Court for approval. That will happen in December, subject to court dates/diaries. There is no official date yet.

Trading of "old" Elan shares will cease around that date.

If I do nothing, then I, or the share custodian, will receive a euro cheque for USD 6.25 per share, and a fractional share in New Perrigo for each "old" Elan share that I own.

If I don't want to be a s/h of New Perrigo, I have about 2 weeks to sell original shares on ISE.
 
Got the cheque for the Elan/Perrigo deal and a notification of how many Perrigo shares we now have. Cannot figure how much they are worth. There is an option to sell them.
Any thoughts on that?
 
on their website, it appears that the shares are worth about usd152....not sure I am looking at right price though....hopefully!
 
Hi, in same position. Little confused though about the perrigo shares. I've read the document a number of times but not sure if its only an option to hold them in compushare not to actually sell?

What are others doing?
 
hopefully we will hear from them again with a clearer option of what to do.
 
Lost Share Certificate

Hi, I have lost my Elan Share certificate. It would suggest on the back of the Computershare form that cost of replacing same is No of shares lost * $0.53 cents. If I hold 1000 shares, am I correct in thinking that it will cost me $530 plus $20 admin to replace. Seems outrageous. Thanks
 
I didn't think the Elan share certificates are valid anymore. You would have recevied cash and Perrigo shares. As far as I know you can't trade in Elan shares, so you don't need to worry about your certificates.

As for Prothena shares, I don't think there's any effect on these. When Prothena was created, it became a completely separate company.
 
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