According to reports, the US surgical implant maker Stryker is planning a $15 billion takeover offer for British medical device maker Smith & Nephew. It is thought the takeover will happen in the next few weeks, although the bid is still being finalised and timings may change, sources told Bloomberg.
Earlier this year Stryker said it was not planning a takeover bid and ruled itself out for six months. That time has now passed.
While Smith & Nephew's share price dipped earlier this week as part of general healthcare fall, the pre-Christmas news saw the company's shares climb 93p or 8.5% to £11.82 valuing the business at £10.5bn,
The two companies could not be reached for comment but sources told Bloomberg that there is a possibility that Stryker could decide against an offer.