Smith & Nephew shares gain on speculation of possible bid from Stryker or Johnson & Johnson
Smith & Nephew shares gained yesterday, 24 April on speculation that the listed medical devices and pharmaceuticals company, might attract a takeover bid, the Independent reported. The newspaper’s market report section said rival medical devices group Zimmer’s acquisition of Biomet prompted talk of further mergers and acquisitions, but did not cite a source for the speculation.
The article noted talk of US-based rivals Stryker and Johnson & Johnson, as possible buyers for Smith & Nephew.
Smith & Nephew’s share price closed 29.5p up at 909.0p in London yesterday, valuing the company at GBP 8.12bn (EUR 9.86bn).
Source Independent