Thursday, December 21, 2006

Smith & Nephew (SNN) Higher As Takeover Speculation Grows

Smith & Nephew plc (NYSE: SNN) is 3% higher in early action on growing takeover speculation. According to reports, the private equity group that bought Biomet, Inc. (NASDAQ: BMET) could also target Smith & Nephew. The group was made up of Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. and TPG.

Smith & Nephew and Biomet were engaged in merger talks prior to the private equity group deal.

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