Sign up
Pharma Capital

Boston Scientific shares halted on takeover talk

A Wall Street Journal report says it’s unclear whether the device maker was receptive to an overture by rival Stryker
'Takeover Bid' written note taped to wall
The story is credited to unnamed sources

Boston Scientific Corp (NYSE:BSX) shares were halted Monday morning after a Wall Street Journal story speculated that rival device-maker Stryker Corp (NYSE:SYK) could try to take over the company.

Initial reaction to the report sent shares up sharply before being halted about 7% higher to around US$34.

According to the Journal story, which is attributed to anonymous sources, it is unclear whether Boston Scientific is receptive to the approach.

The Marlborough, Massachusetts, company has a market cap of about US$47bn, while Stryker is valued at US$64bm.

After trading in Boston Scientific resumed, shares leapt 10% to US$ 35.12, while Stryker shares dipped 3.6% to US$172.50 in midday trading.

-- Updates share prices -- 

Register here to be notified of future BSX Company articles
View full BSX profile View Profile
View All

Related Articles

© biotech Capital 2019

Biotech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed biotech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Biotech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Biotechnology market.