Smith & Nephew dampens bid talk

By Daily Mail Reporter
Updated:

 

Artificial knee and hip maker Smith & Nephew sought to cool talk that it will become a takeover target as it posted rising revenues.

Chief financial officer Adrian Hennah said a £13bn deal expected to see US firm Johnson & Johnson take over Switzerland's Synthes in April did not necessarily mean S&N (up 20p to 680p) would be next.

'Do we see it driving a major change in our markets? No we don't,' he said.

His sceptical comments came as the firm reported pre-tax profits down slightly at £139m on revenues up 4% at £643m.

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