NuVasive stock was on the rise Monday following news of a potential takeover from Smith & Nephew (NYSE:SNN).
The recent NuVasive (NASDAQ:NUVA) news claims that Smith & Nephew is looking to pick the company up for a price of $3 billion. This information comes from unnamed sources that are reportedly close to the takeover talks.
According to these anonymous sources, the talks between NuVasive and Smith & Nephew are still ongoing and there still isn’t a final agreement for the companies. As such, it is possible that the deal may not go on to reach completion, reports TheStreet.com.
NuVasive is the developer of treatments for chronic back pain and other issues with the spine. It fixes these problems with a type of minimally invasive surgery called Maximum Access Surgery. This only requires a small incision, about one inch to two inches, on the back.
Smith & Nephew is a multinational l medical equipment manufacturing company. It headquarters is based out of London. The company has been around since 1856 and trades on the New York Stock Exchange, as well as the London Stock Exchange.
News about a possible takeover of NUVA really sent NuVasive stock soaring on Monday. The stock was up 15% as of Monday morning. However, this same news saw SNN stock dropping today. Smith & Nephew stock was down 4% as of noon Monday, but it is still up 10% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.