The Telegraph previously reported that Biomet would begin informal talks about a potential merger with Smith & Nephew. Sky News also reported earlier in the week that Smith & Nephew had rejected an $11 billion takeover from Johnson & Johnson in December. Stock prices jumped and then retreated after this announcement was made.
Smith & Nephew has an enterprise value of $10.3 billion. The company issued a statement today clarifying that it is not engaging in any discussions which could lead to a merger or takeover.
Read the Smith & Nephew release on the denial of mergers or acquisitions.
Read the report from The New York Times about Smith & Nephew.
Read other coverage on Smith & Nephew:
– Smith & Nephew Shares Jump After Rejecting Johnson & Johnson Acquisition
