Johnson & Johnson (NYSE:JNJ) is in talks to buy Synthes Inc. for $20 billion, according to a report in the Wall Street Journal.
The Journal, citing anonymous sources with knowledge of the situation, reported late Friday that the New Brunswick, N.J.-based conglomerate had made an overture to buy the Swiss medical device giant in a deal that could be worth $20 billion. However, the paper’s source cautioned that the deal was still “fragile” and could fall apart at any time.
Synthes, which makes bone screws, rods and power tools used in surgery, pulled in just under $3.7 billion in sales last year.
The deal, should it come to fruition, would be the largest in the history of JNJ. It is also the second rumored mega-deal the company has been involved with this year.
In January, JNJ was supposedly kicking the tires on an $11.3 billion buyout of Smith & Nephew (NYSE:SNN). The rumored deal, which was reported in the The Telegrath newspaper, was promptly swatted down by SNN officials.
