Oct. 29, 2015, 9:13 AM| Oct. 29, 2015, 9:13 AM
Feb. 5, 2015, 6:44 AM
- Smith & Nephew (NYSE:SNN): Q4 EPS of $0.26 misses by $0.27.
- Revenue of $1.25B (+5.9% Y/Y) misses by $40M.
- Shares +2.22% PM.
Dec. 23, 2014, 2:23 PM
Jun. 5, 2014, 9:12 AM
Jun. 4, 2014, 2:25 PM
- Bloomberg reports Medtronic (MDT +3.8%) is mulling a buyout offer for knee/hip implant maker Smith & Nephew (SNN +8.6%). SNN and i-banks are said to be "aware of Medtronic's interest.".
- The news service cautions Medtronic's prep work is at an early stage, and that "no offer is imminent." Nonetheless, Medtronic is viewed as "a more serious bidder" for SNN than Stryker (SYK -0.1%), previously rumored to be weighing an offer.
- Sources state a deal would likely result in Medtronic using SNN's corporate shell to change its legal residence to the U.K., and thereby take advantage of lower tax rates. Medtronic, which has a large offshore cash balance, has previously said it's open to a tax-inversion deal.
- Shares of both companies have spiked higher following the report. SNN's market cap is currently at $17B.
May 28, 2014, 9:13 AM
Jun. 1, 2012, 10:54 AM
U.K. medical device maker Smith & Nephew (SNN -3.2%) slips after saying it's withdrawing the optional metal liner component used in its hip implants, saying it isn't satisfied with clinical results. Approximately 7,700 metal liners have been implanted since the component was introduced in 2007, the majority of which have been used in stemmed total hip replacements.| Jun. 1, 2012, 10:54 AM