Elan Corp. (ELN) Up On Renewed Takeover Talk

Shares of Elan Corp. plc (NYSE: ELN) are 11% higher today with Reuters reporting rumors "Denmark's Lundbeck was lining up an imminent bid at 8 euros per share, valuing it at $3.8 billion."

In January, Elan hired Citigroup to conduct, in conjunction with executive management and other external advisors, a review of the Company's strategic alternatives.

One analyst quoted in the article said Elan is too big for Lundeck to afford given the current credit market.

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