I think finances is the simple answer. Rumoured salary for Elmander is £23k, I imagine Toivonen would want more than that. I'm not sure we can afford two players on wages at the top-end of our cap, particularly if there's still interest in bringing in a CB. There's also the concern that it would leave us with 26 over 21's in the squad, so someone would either miss out or have to be sold quickly.
Also, keeping them all happy could be tricky unless Becchio leaves. Elmander might be happy with a bit-part role, but Toivonen, Ricky and Hooper probably won't be, and using those four would push Becchio completely out of the picture, especially if we persist with a single striker.
On Spurs, surely they've spent too much money to not sell Bale now? They've already spent serious money, and appear to be committing more to Willian and potentially others. I can't see Tottenham having the resources to outspend every other club in the league without a serious boost in income. On current squads, I do think they'll crack the top 4 and Wenger will leave next summer. Arsenal need some serious signings to prevent them, and I can't see Wenger doing that.