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News In Brief.
(From Irish Independent)
Elan expects to raise $573m
PHARMACEUTICAL company Elan has increased the size of its bond issue announced on Thursday from $250m to $400m. Elan also said its 35m new shareswould be priced at $4.95 per share.
The company now says it expects to raise around $573m from the share placing and bond issue. The money will be used to pay off so-called poison put, or LYON, bonds.
Providence aimsfor Blackrock drill
PROVIDENCE Resources said yesterday that an industry farmout process is currently under way with the objective of drilling a well on its Blackrock prospect in the Celtic Sea next year, ...
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