Engineering specialist Smiths Group (LON:SMIN) has this morning confirmed speculation that it is in early talks with ICU Medical regarding a possible merger with the FTSE 100 group’s healthcare division. Management reiterated that there is no certainty that a deal will take place, but that they are reviewing all options in order to maximise value for shareholders.
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The value of such a merger is estimated to be in the region of £6 billion and it is believed that if a deal were to take place, it’s more likely to be a joint venture than an outright sale. Shares in Smiths were up by 1.74% today at 1,750p.