Medtronic, Smith & Nephew Buyout Rumors Under Fire
Shares of medical-device giant Medtronic (MDT) and British orthopedics firm Smith & Nephew (SNN) pulled back in the stock market today from their new highs Wednesday as analysts debated a buyout rumor. Bloomberg first published its anonymously sourced report before Wednesday’s open, driving S&N’s stock up 12.1% and Medtronic’s 3.6%, both to new highs. Following a similar rumor last week that Stryker (SYK) was looking to buy S&N, the news suggested