Smith & Nephew: could Centerpulse do better?
This article was originally published in Clinica
Executive Summary
UK group Smith & Nephew's $2.4 bn bid for Centerpulse of Switzerland is so far the biggest move in the M&A Market this year, and exceeds GE's offer last December for Finland's Instrumentarium. It represents a pragmatic way forward for S&N, but will the 2% premium being offer prove sufficiently attractive to Centerpulse's shareholders? The jury is still out, writes Eleanor Malone.