Leading healthcare technology firm Medtronic is reportedly looking to acquire UK-based Smith & Nephew, a deal reports say could shift Medtronic’s finances overseas.
The US firm, which is the largest manufacturer of heart rhythm technologies, is evaluating a possible acquisition of the London company, which currently has a market value of nearly $16 billion. While unnamed sources first broke news of the possible merger, they noted that a deal has not been struck and preparations for a bid are only in their preliminary stage.
But a Medtronic offer for Smith & Nephew would rival one from rival US medial tech company Stryker, which confirmed last week that it was also considering placing a bid for the UK company./p>
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.