Good point of reference. Some of this just might be CEO talk for a show-me audience. I don't think they have the financial strength to go on another acquisition path. Unless, as you suggest, their main R & D projects succeed and they can buy the rights to some new technology. I think it's fair to say that he'll review all options. I wouldn't be happy with a 30% premium over today's price and hope that you're correct in your assessment.
Your quote" Some of this just might be CEO talk for a show-me audience.
KM is no BS talker for any audience, he does what he says. Everything he has said in the last nine months regarding the restucturing of Elan has produced results.
FROM KM: "Mr Martin said Elan's recent $630 million refinancing programme, when coupled with an aggressive asset-disposal strategy, had ensured the company's "financial flexibility" until the end of 2005, as well as successfully restoring its "credibility" in the market.
"The market is recognising that when we say something, that's what we mean," he added.
PS. If he gets any headaches at his job at Elan, at least he has Prialt to cure them !!!!!