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J&J Weighs New Bid for Smith & Nephew, Times Says

Jan. 16 (Bloomberg) -- Johnson & Johnson, the world’s largest maker of health-care products, is considering a fresh takeover bid for Smith & Nephew Plc, the Sunday Times reported, without saying how it got the information.

Smith & Nephew, Europe’s largest maker of knee and hip replacements, said on Jan. 14 it wasn’t in talks that might lead to a takeover or merger, after the Daily Telegraph said the company was about to start informal negotiations with Biomet Inc. Sky News reported on Jan. 10 that London-based Smith & Nephew rejected a 7 billion pound ($11.1 billion) offer from Johnson & Johnson because it was too low.

Jeffrey Leebaw, a J&J spokesman, told Bloomberg News today in an e-mail message the company doesn’t comment on rumor or speculation.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net.

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net.

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