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.
Medtronic declined to comment. Its shares were up 4 percent,
or $2.44, at $63.53 at mid-afternoon in New York.
(Reporting by Caroline Humer; Editing by Richard Chang)