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Evening Wrap: today's top business stories

News stories from around the web.

Royalty Pharma raises Elan offer (FT)

The bitter battle for Elan intensified on Friday after private equity group Royalty Pharma raised its all-cash offer for the Irish-based speciality drug company by 5 per cent to $6.7bn.

BofA executives hostile in mortgage talks (FT)

Bank of America executives and lawyers threw documents at bondholders and told them that their “grandchildren would have grandchildren” before they received compensation for soured mortgages, a US court heard on Thursday.

Centrica in shale gas stake talks with Cuadrilla (BBC)

Centrica, the owner of British Gas, is in advanced talks to buy a stake in shale gas fields in northern England.

The company is talking to Cuadrilla Resources about buying a stake in its licences in the Bowland shale formation in Lancashire.

Cameron to attend 'secretive' Bilderberg meeting (BBC)

David Cameron is to attend a behind-closed-doors meeting of global business leaders, politicians and academics that critics say is too secretive.

Severn Trent suitors raise offer to £5.3bn (Telegraph)

A consortium of Canadian, Kuwaiti and British investors has upped its bid for Severn Trent to £22 a share, or £5.3bn, but has said the offer is conditional on the support of the water utility's board.