Will Stryker bid on Smith & Nephew this week? (MassDevice)
Speculation mounts again about a possible Stryker offer for Smith & Nephew now that a 6-month no-bid period has ended.
Stryker (NYSE:SYK) is free to make an offer for Smith & Nephew(FTSE:SN, NYSE:SNN) after a 6-month no-bid period elapsed last week, fueling speculation that the U.S orthopedics giant will move on its British rival.
Under British law Stryker was barred from bidding on Smith & Nephew after demurring in May.
Rumors of a potential Stryker-Smith & Nephew union sent the British firm's shares up that month, before Stryker disavowed its interest in the hookup. Medtronic (NYSE:MDT) was also said to be in the running, but soon thereafter shocked medtech with news of its biggest acquisition ever, the pending $43 billion buyout of rival Covidien (NYSE:COV).
Now the markets on both sides of the Atlantic are watching closely to see whether Stryker makes a move. There's some pressure involved, according to 1 report, as Smith & Nephew is mulling a sale of its wound management business; Stryker (or any other suitor) would have to make its offer before such a sale occurs.
Stryker's bid could come as so...
