May 29, 2014 by Brad Perriello
Stryker CEO Kevin Lobo yesterday admitted that his company was evaluating an acquisition of British orthopedics rival Smith & Nephew.
Rumors of the deal prompted investors to boost Smith & Nephew’s share price to £10.12 apiece yesterday, for a record high and a gain of some 17.5%. The surge forced Stryker to shelve the plan for at least 6 months under U.K. merger & acquisition rules, sending SN shares back down to earth. Read more
June 2, 2014 by Arezu Sarvestani
After sweetening the pot last week, activist investor Valeant Pharmaceuticals is taking a more aggressive approach in its unsolicited (and unrequited) attempt to buy Botox-maker Allergan.
Hedge fund mogul and activist investor Bill Ackman is working with Valeant to hold a shareholder meeting to vote on a measure that would oust most Allergan’s board of directors, while Valeant is looking to take its acquisition proposal straight to shareholders. Read more
June 4, 2014 by Arezu Sarvestani
Move over Stryker, medtech titan Medtronic may swoop in to claim orthopedics giant Smith & Nephew for itself, according to rumors circulation on The Street.
Citing anonymous sources, Bloomberg reported today that Medtronic has is considering making a move and that the company may further use the buyout as an excuse to shift its corporate headquarters to the U.K. to take advantage of more favorable tax rates. The potential deal is still in very early talks, the sources said. Read more