Smiths rejects £2.5bn offer for medical device unit
This article was originally published in Clinica
Executive Summary
The UK's Smiths Group last week snubbed a £2.5bn ($3.9bn) cash offer from an undisclosed suitor for its medical device division Smiths Medical. The group said that it had "carefully considered" the proposal but rejected it after taking into account the "quality and highly cash-generative nature" of that unit as a standalone business, and in the context of the group as a whole.