S&N deal lures second suitor

Michael Bow
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SMITH & NEPHEW (S&N) looks set to be the subject of a bidding war after a rival suitor started evaluating a bid for the group, just days after US firm Stryker said it was also interested in the firm.

S&N, which sells surgical implants, is understood to be in the sights of US medical devices maker Medtronic. Shares in Medtronic closed up 3.62 per cent on the news, which was first reported by Bloomberg.

S&N declined to comment. S&N shares were up 3.3 per cent.