LONDON (Reuters) – U.S. healthcare group Johnson & Johnson is considering a fresh takeover approach for British artificial knee and hip maker Smith & Nephew, the Sunday Times reported without citing sources.
The newspaper said J&J was weighing up whether to make a formal offer for Smith & Nephew worth at least 800 pence a share and valuing the business at more than 7 billion pounds ($11.1 billion), having had a tentative approach pitched at 750p a share rejected last year.
Smith & Nephew, which also has woundcare and endoscopy units, said on Friday it was not currently in talks over a merger or takeover. A spokesman for the company said on Sunday its position had not changed since then.
The company issued a statement on Friday having been at the center of frenzied takeover speculation over the last week.
Sky News had reported that Smith & Nephew received a 7 billion pound ($11.1 billion) or 750p per share approach from J&J last month and the Daily Telegraph reported it had been approached by privately owned U.S. rival Biomet over a possible merger.
J&J said last week it did not comment on rumors or speculation as a matter of policy.
Sunday, January 16, 2011
J&J mulls fresh approach for Smith & Nephew: report - Yahoo! News
via news.yahoo.com
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