Boston Scientific is surging following report Stryker has approached the company about a takeover

• Boston Scientific shares are soaring Monday after the Wall Street Journal reported Stryker has approached the company about a takeover.
• A deal would be part of wider consolidation in the healthcare industry.
• Stryker is trading down on the news.
• Watch Boston Scientific trade in real time here.

Shares of Boston Scientific are surging, up 10.7%, after the Wall Street Journal reported that Stryker has approached the medical-device manufacturer about a takeover.

The move would create a combined entity worth more than $110 billion. Boston Scientific has not made it clear it is interested in the offer, the Journal says.

The offer comes as part of a broader move to consolidate within the healthcare industry. Companies are responding to healthcare regulation as they seek lower costs and new avenues for growth.

Stryker shares are down more than 2% on the news.

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