UK en­gi­neer Smiths starts merger talks with US ri­val

The Malta Business Weekly - - FRONT PAGE -

UK en­gi­neer­ing firm Smiths Group has be­gun talks with the US com­pany ICU Med­i­cal about merg­ing the two firms' health­care op­er­a­tions.

In a state­ment, Smiths said it was in "very early dis­cus­sions" to com­bine its med­i­cal unit with the ri­val US firm.

It added, the board "rou­tinely re­views all op­tions for the Group's port­fo­lio of busi­nesses" to max­imise value for share­hold­ers.

How­ever, Smiths stressed there was "no cer­tainty" a deal would be con­cluded.

The UK en­gi­neer­ing gi­ant is also re­ported to be hold­ing dis­cus­sions with other US com­pa­nies.

The group's health­care arm, Smiths Med­i­cal, makes hos­pi­tal and emer­gency sup­plies in­clud­ing res­pi­ra­tory equip­ment and catheters and has a global work­force of 7,000 peo­ple.

In March, the par­ent com­pany re­ported that Smiths Med­i­cal made rev­enues of £451m in the six months to the end of Jan­uary.

Smiths Med­i­cal was the tar­get of a pre­vi­ous takeover bid in 2011, worth £2.45bn, but it was re­jected by the group.

Newspapers in English

Newspapers from Malta

© PressReader. All rights reserved.