Stryker risk/reward favorable, says RBC Capital After Financial Times reported that Stryker (SYK) was preparing a bid for Smith & Nephew (SNN), RBC Capital thinks the deal would be 8%-10% accretive in the first year and 15%-20% accretive in the third year. The firm thinks that Stryker's stock can rise further from current levels.
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.