J&J leaps amid Swiss talks reports

Johnson & Johnson shares jumped in after-hours trading on Friday on reports that the US healthcare company was in talks to acquire Synthes, a Swiss medical device maker in a deal valued at about $20bn.

J&J said it could not comment on speculation about an acquisition. Synthes did not return a call for comment.

Earlier this year the company made an unsuccessful bid for Smith & Nephew, a UK hip and knee replacement company that was said to be valued at nearly $11bn.

“J&J’s modus operandi has been to do acquisitions,” said Les Funtleyder, a fund manager and healthcare analyst at Miller Tabak. “But I would wonder if they would want to clean up their consumer unit before this kind of acquisition.”

Read Full Article from Financial Times

- Posted: 2011-04-15 19:40:33

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