Shares of Elan were up 11% today on rumors that Lundbeck would make an EUR 8 per share offer for the Irish drugmaker.

Lundbeck’s Anders Schroll, head of corporate communications at Lundbeck, declined to comment to Reuters. Elan also had no comments.

Elan has been in the news A LOT this year. In January, the company hired Citigroup to conduct a strategic review of its business, which it said at the time could “lead to a sale or merger of the company.”

Elan has also made news regarding its executives’ use of corporate jets, massive layoffs, generous management option plans and its CEO’s (Kelly Martin) ongoing battle with Jack Schuler from Crabtree Partners.

Stay tuned…

Image from streetinsider

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