ArthroCare unlikely to attract competing bid, NY Times columnist says After British medical technology company Smith & Nephew (SNN) yesterday agreed to buy sports medicine specialist ArthroCare (ARTC) for $1.5B, New York Times columnist Quentin Webb doesn't expect ArthroCare to attract another bid. Smith & Nephew has more synergies with ArthroCare than other potential bidders, making a competing bid unlikely, the columnist explained. Reference Link
Smith & Nephew announces intended ratio change for ADRs Smith & Nephew announces an intended ratio change to its NYSE-listed American Depositary Receipt program. The ratio will change from the current one ADR per five ordinary shares to one ADR per two ordinary shares. The anticipated effective date for the ratio change is October 14. To implement the change, ADR holders on the record at the close of business one business day prior to the ratio change taking effect will receive 2.5 ADRs for every one ADR held.