Stryker stock price Boston Scientific stock price
Medical device maker Stryker makes takeover approach to Boston Scientific (OrthoFeed)
Medical device maker Stryker Corp has made a takeover approach to rival Boston Scientific Corp, the Wall Street Journal reported on Monday, a combination that would give Stryker a strong position in stroke-preventing heart products.
Shares of both companies were halted in early afternoon trading.
A deal would create a combined company with a market value of more than $110 billion and a wide breadth of product offerings from cardiology and orthopedics to surgical supplies and neuroscience at a time when leaders in the sector feel the need to get bigger to be able to offer hospitals and other customers a one-stop shopping experience.
It is not clear whether Boston Scientific is open to a potential acquisition by Stryker, the Journal reported, citing people familiar with the matter.
Representatives of both Stryker and Boston Scientific declined to comment on the report. But the two have done business before. Stryker bought Boston Scientific’s neurovascular unit in 2010 for $1.5 billion.
Shares of Boston Scientific, which has a market value of about...
