While neither firm has commented, articles in both London’s Financial Times and the Irish Independent reported the rumours and said that such a transaction would be in keeping with Elan’s decision to bring in Citigroup to review its strategic options in January.
MF Global’s Manus Cranny told the Independent that: "There may be some substance to [the speculation] as we are seeing corporate bonds ticking slightly higher, which is an indication of some action in the stock."
Other analysts were less convinced and questioned what Lundeck stood to gain from the acquisition.
