November 18, 2013 / 10:30 AM / 7 years ago

Elan wins shareholder approval to complete Perrigo sale

DUBLIN, Nov 18 (Reuters) - Ireland’s Elan won approval from shareholders on Monday to complete the sale of the company to U.S. drugmaker Perrigo, clearing the way for the deal to be completed by the end of the year.

Perrigo agreed to buy the Dublin-based group for $8.6 billion in July in a deal that will hand it tax savings from being domiciled in Ireland and royalties from blockbuster multiple sclerosis treatment Tysabri.

The deal ended a bitter takeover battle in which Elan rejected three lower bids from U.S. investment firm Royalty Pharma.

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