It is fitting that an early hours statement, made on Monday July 29, could draw to a close an acrimonious five-month battle often played out via outbursts published first thing in the morning.

The announcement made public an agreed deal by Perrigo, a US over-the-counter pharmaceutical specialist, for Irish biotechnology company Elan, which heralds the conclusion of a lengthy process involving no fewer than 12 advisers and lending banks and described by those close to the deal as ugly, aggressive and bruising.