Markets Insider
- 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.