Today's mail - takeover talk11 Jun 2014 06:18
Prevailing Medtronic of the US takeover talk continued to put a spring in the step of replacement hip and knee group Smith & Nephew, 25p higher at 1100p. Intensifying rumours that private equity players Blackrock and Warburg Pincus are stalking aesthetics and skin care company Sinclair IS Pharma helped it rise 3.5p to 33.5p.
Legendary investor George Soros recently spent £9million taking his stake above 5 per cent and dealers believe he could have snapped up some more stock yesterday when a overhang was cleared.
Sinclair’s attraction is that it owns Silhouette, a company that has found a replacement for botox. Silhouette Soft is a £1,200 anti-ageing treatment that uses dissolvable thread to beat wrinkles. Any predator will have to pay 45p-plus a share to stand a chance of gaining control.