Smith & Nephew denies takeover talks
The UK-based global medical technology business Smith & Nephew moved today to quash speculation that it was in takeover talks. In recent days, speculation that the company which has been praised for its efficient manufacturing prowess was a takeover first by Johnson & Johnson and latterly by the privately owned US orthopaedics group Biomet sent its share price soaring to a new record before falling back.
Smith & Nephew, which is led by chief executive David Illingworth (pictured) boasts global leadership positions in orthopaedics; including reconstruction, trauma and clinical therapies; endoscopy; including sports medicine; and advanced wound management.
A statement from the company this morning said: "Smith & Nephew notes the continued press speculation in relation to a possible merger or takeover involving the company.
Smith & Nephew has a long-standing policy of not commenting on press speculation, unless there is a regulatory obligation to do so. However, exceptionally, Smith & Nephew wishes to clarify that it is not engaged in any discussions which could lead to a merger or a takeover involving the company."
