Proactive Investors - Run By Investors For Investors

Smith & Nephew shares weak on reports of talks over possible $3bn US orthopaedics acquisition

The Financial Times report, published online late on Friday, said the exact terms of the discussions had not been disclosed and added the talks may still not proceed to a deal
Knees
Nasdaq-listed, California-based NuVasive makes equipment for spinal surgery, as well as bone implants

Smith & Nephew PLC (LON:SN.) shares were weak on Monday after the Financial Times reported that the medical devices firm is in discussions to acquire US surgical instruments maker NuVasive Inc (NASDAQ:NUVA), a deal that could be worth more than US$3bn.

The FT report, published online late on Friday, said the exact terms of the discussions had not been disclosed and added the talks may still not proceed to a deal.

READ: Smith & Nephew up as annual profits surge after US$84mln legal win against insurers

Nasdaq-listed, California-based NuVasive makes equipment for spinal surgery, as well as bone implants.

Last Thursday, S&N posted strong annual results, with all three of its divisions showing increased revenue.

Last month, the UK group completed the US$105mln acquisition of another US orthopaedics firm, Ceterix Orthopaedics.

In early trading on Monday, S&N shares topped the FTSE 100 fallers list, down 2.7% at 1,473.50p.

NuVasive, which has a market cap of USD2.55bn, saw its shares spike 18% higher in US after-hours trading following the publication of the FT article,

View full SNN profile View Profile

Smith & Nephew PLC Timeline

Related Articles

A doctor's stethoscope and a marijuana plant
Fri
With top-line data from the CONNECT-FX trial on the way, investors are eying the opportunity defined by marijuana-adjacent companies like Zynerba Pharmaceuticals
Artificial intelligence
October 29 2018
E-therapeutics believes it is now focused on the right activities
salmon
January 30 2019
Long-term fundamentals remain firmly in the seafood specialist's favour.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use