Smith & Nephew Inc. Surges on Rumored Stryker Takeover Bid

Smith & Nephew Plc (SN/) rose in London trading after people familiar with the matter said that Stryker Corp. (SYK) is planning a takeover offer for the U.K. medical device maker that could happen in the coming weeks.

Stryker, a U.S. producer of surgical implants, plans to offer a significant premium to Smith & Nephew’s share price, with one of the people saying it could be about 30 percent. Smith & Nephew gained as much as 9.7 percent and was up 7.4 percent at 10:39 a.m. That takes the gain this year to 36 percent and values the company at about 10.5 billion pounds ($16.3 billion).

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