NEW YORK, NY / ACCESSWIRE / June 12, 2018 / Medical device companies Stryker and Boston Scientific Corporation went in different directions in Monday's trading session, after it was revealed that Stryker had made a takeover offer for Boston Scientific. The latter said it would not comment on the situation.

RDI Initiates Coverage on:

Boston Scientific Corporation
https://rdinvesting.com/news/?ticker=BSX

Stryker Corporation
https://rdinvesting.com/news/?ticker=SYK

Boston Scientific Corporation shares jumped on Monday, closing the day up 7.42% on nearly 34.5 million shares traded. The stock hit a new high of $37.30 after reports surfaced that Stryker Corporation had approached the company with a takeover offer. Yesterday's close was the highest level the stock has seen since 2005. No offer amount was revealed but according to Stifel Nicolaus, any bid would be over $40 a share. Wells Fargo even said the shares could be valued at around $42. Given how big Boston Scientific's market cap is at $48 billion, if a deal were to happen it would be the biggest one of 2018, giving the combined company offering a broad range of medical devices, a market value over $110 billion. It hasn't been reported whether or not the company is open to Stryker's offer. A spokeswoman for the company said it does not comment on rumors or speculation. Boston Scientific shares have gained 38.4% year to date.

Access RDI's Boston Scientific Corporation Research Report at:
https://rdinvesting.com/news/?ticker=BSX

Stryker Corporation shares closed down a little over 5% yesterday on about 4.4 million shares traded. Despite the loss, it was an exciting day as the medical technology company made a takeover approach to rival Boston Scientific Corp. Reports revealed that Stryker approached Boston Scientific Corp. with a takeover offer, but there were not many details aside from that. It is unknown how much the offer was for, but reports have said it would be the largest deal of 2018 to date most likely. If the companies were to become just one company, the market value of that company would be worth $110 billion. CNBC reported that if this were to happen, the combined company could be a rival of Medtronic PLC, who has a market cap of $117 billion. Boston Scientific had no comment other than, "Consistent with its practice, the company does not comment on market rumors or speculation." Shares of Stryker have seen a gain of nearly 10% year to date.

Access RDI's Stryker Corporation Research Report at:
https://rdinvesting.com/news/?ticker=SYK

Our Actionable Research on Boston Scientific Corporation (NYSE: BSX) and Stryker Corporation (NYSE: SYK) can be downloaded free of charge at Research Driven Investing.

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