Elan offers no hints over timing of sale

Elan has said it is focused squarely on exploring a sale of the company, but has offered no potential transaction timeframe, nor hinted at any bid deadlines.

It had been expected that first-round bids would be tabled by the end of last week, but that notion was quickly dismissed; suggesting sometime after the company’s interim results announcement — which was made yesterday.

However, speaking to investors after the publication of the results, Elan chief executive Kelly Martin refused to give any more information on the timing issue.