Deals
Smith & Nephew Shares Advance After Takeover Speculation
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Smith & Nephew Plc rose the most in almost eight months in London trading after four U.K. newspapers reported that traders were speculating the maker of artificial knees and hips may receive a takeover offer.
Smith & Nephew climbed 29 pence, or 4.9 percent, to 625.5 pence, giving the London-based company a market value of 5.58 billion pounds ($9.1 billion). The gain was the biggest since Jan. 10, following a 3.9 percent jump yesterday. The Guardian today cited “renewed talk” of a bid by Stryker Corp. amounting to 850 pence a share.