June 4 Medical device maker Medtronic Inc is looking at a takeover of London-based Smith & Nephew PLC, a move that could help lower its taxes by moving its base overseas, Bloomberg reported on Wednesday.
Last week Stryker Corp was reported by the Financial Times to have been making a bid for Smith & Nephew, which also makes medical equipment. Stryker denied the report.
On Wednesday, Smith & Nephew shares rose 3.3 percent to close at 1,064 pence in London. It had a market capitalization of 9.5 billion pounds, or $15.91 billion, at the market close.