Smith & Nephew (NYSE:SNN) announced on Friday that it is not weighing its options and is not exploring a takeover or a merger. The company made the statement after speculation it could be in talks with Biomet, a U.S.-based competitor.
Smith & Nephew, which is based in England, makes knee replacements and endoscopy technology. Biomet is owned largely by the Blackstone Group (NYSE:BX) and Goldman Sachs (NYSE:GS). The deal is thought to be a good move for Biomet if the company looks to broaden its offerings in the orthopedics market.
Any deal between the two companies could face antitrust hurdles in both countries.