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  • ktkamau ktkamau Jun 1, 2009 12:29 PM Flag

    Positive News Pending

    Elan Corp ($7.78, +$0.80, +11.46%) shares jumped after news over the weekend that the Ireland-based pharmaceuticals company is in advanced talks to sell a minority stake to Bristol-Myers Squibb (BMY, $19.89, -$0.03, -0.15%). A trader noted chatter that this could lead eventually to a full takeover. Elan announced in January a strategic review, suggesting a sale could be in the cards.

    Source: The Wall Street Journal (1 hour ago)

    WSJ would not publish this info if nothing serious was pending. Something positive is going to happen any day now.

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