Smith & Nephew (SN.L) has held talks to buy medical instruments maker NuVasive in a deal that would be worth more than $3 billion, the Financial Times reported, citing people with direct knowledge of the talks.
The exact terms of any discussions could not be learned and talks between the two sides may fall apart, the report stated.
If a deal is reached, the acquisition reportedly would signify the first major move by S&N’s chief executive Namal Nawana since he took up the post less than a year ago.
In short order, Nawana has overhauled much of the FTSE 100 company’s executive leadership and begun to discuss using dealmaking as a way to grow in businesses adjacent to its existing product lines in orthopaedic reconstruction, sports medicine and wound care.
S&N declined to comment. NuVasive said the company “does not comment on market speculation or rumours”.