Smith & Nephew Still Seen as Potential Takeout Target: Bernstein
2014-11-03 13:32:10.435 GMT
By Catherine Larkin
Nov. 3 (Bloomberg) -- Smith & Nephew still seen with 35%
chance of being acquired even after Treasury Dept. rules aiming
to restrict tax inversions and failure of AbbVie-Shire deal,
Berstein analyst Lisa Bedell Clive says in note.
* Sees J&J, Styker as potential buyers; says neither deal
would hinge on inversion
* Sees SNN possibly getting offer up to GBP14.00 if bidder
does emerge, stand-alone SNN value of GBP11.50
* Doesn’t expect SNN to be willing seller, though “always
comes down to price” in the end
* Doesn’t expect SNN to be willing seller, though “always
comes down to price” in the end</li></ul>
* SNN new “Best of Bernstein” pick, rates outperform with PT
GBP12.40 (ADRs $39.50)
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To contact the reporter on this story:
Catherine Larkin in Chicago at +1-312-443-5968 or
clarkin4@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
2014-11-03 13:32:10.435 GMT
By Catherine Larkin
Nov. 3 (Bloomberg) -- Smith & Nephew still seen with 35%
chance of being acquired even after Treasury Dept. rules aiming
to restrict tax inversions and failure of AbbVie-Shire deal,
Berstein analyst Lisa Bedell Clive says in note.
* Sees J&J, Styker as potential buyers; says neither deal
would hinge on inversion
* Sees SNN possibly getting offer up to GBP14.00 if bidder
does emerge, stand-alone SNN value of GBP11.50
* Doesn’t expect SNN to be willing seller, though “always
comes down to price” in the end
* Doesn’t expect SNN to be willing seller, though “always
comes down to price” in the end</li></ul>
* SNN new “Best of Bernstein” pick, rates outperform with PT
GBP12.40 (ADRs $39.50)
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Catherine Larkin in Chicago at +1-312-443-5968 or
clarkin4@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net