The US healthcare giant Johnson & Johnson (J&J) will face a battle if it launches a renewed bid for the joint-replacement specialist Smith & Nephew (S&N) that could value the company at £7bn. On Friday, S&N's share price closed at 685p, valuing the company at just over £6bn, but had hit 735p as speculation about an offer mounted.
A tentative approach last year was rejected as undervaluing the company. However, S&N has put its advisers on watch ahead of a possible battle. The company's board is said to be readying a defence against any predator.
Monday, January 17, 2011
Smith & Nephew prepares defence against US bidder - The Independent
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