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United Kingdom

Smith & Nephew PLC (SN.L)

SN.L on London Stock Exchange

1,282.00GBp
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Smith & Nephew announces acquisition of Rotation Medical Inc​
Wednesday, 6 Dec 2017 

Dec 6 (Reuters) - SMITH & NEPHEW PLC ::ACQUISITION OF ROTATION MEDICAL INC​.‍ACQUISITION COST IS $125 MILLION AND UP TO A FURTHER $85 MILLION OVER NEXT FIVE YEARS, CONTINGENT ON FINANCIAL PERFORMANCE​.  Full Article

S&N CEO will not confim if activist investor Elliott has stake
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Smith & Nephew :Ceo says cost savings plan will be finalised by year-end results in feb.Ceo will not comment on identity of any investors.Ceo says not thinking about asset disposal at all.Ceo says he will until last day of his tenure, transition will be smooth.Ceo says impact of us. Hurricanes was about $5 million, also affected emerging markets.Ceo says he confident in existing company strategy, pursuing ongoing simplification.Ceo says he is not pushing for m&a, believe startegy will create value for all shareholders.  Full Article

Smith & Nephew says to buy Rotation Medical Inc​
Monday, 23 Oct 2017 

Oct 23 (Reuters) - SMITH & NEPHEW PLC ::‍ENTERED INTO A DEFINITIVE AGREEMENT TO ACQUIRE ROTATION MEDICAL INC​.‍ACQUISITION WILL BE FINANCED FROM EXISTING CASH AND DEBT FACILITIES​.‍TRANSACTION IS EXPECTED TO CLOSE IN LATE 2017​.‍INITIAL CASH CONSIDERATION OF $125 MILLION AND UP TO $85 MILLION OVER NEXT FIVE YEARS, CONTINGENT ON FINANCIAL PERFORMANCE.​.‍TRANSACTION IS EXPECTED TO CLOSE IN LATE 2017 AND TO BE EARNINGS NEUTRAL IN 2018 AND ACCRETIVE IN 2019.​.  Full Article

Paul Singer's Elliott is said to build a stake in Smith & Nephew - Bloomberg‍​
Tuesday, 10 Oct 2017 

Oct 10 (Reuters) - Smith & Nephew Plc :Paul Singer's Elliott is said to build a stake in Smith & Nephew - Bloomberg, citing sources ‍​.  Full Article

Smith & Nephew CEO Olivier Bohuon to retire by end-2018
Monday, 9 Oct 2017 

Oct 9 (Reuters) - Smith & Nephew Plc :‍notice of chief executive officer's intention to retire by end of 2018​.‍board is commencing a search for a successor​.‍olivier will continue to lead smith & nephew and drive company's growth initiatives and operating plans​.  Full Article

Smith & Nephew starts share buyback after gynaecology divestment completes
Monday, 8 Aug 2016 

Smith & Nephew Plc : Smith & nephew completes gynaecology sale and commences $300 million share buy-back programme . Completion of sale and commencement of buy-back . Smith & nephew completes gynaecology sale and commences $300 million share buy-back programme . Completed divestiture of its gynaecology business to medtronic plc (nyse:mdt) for $350 million. .Maximum pecuniary amount allocated to buy-back programme is $300 million and maximum number of shares that will be purchased is estimated to be 18.3 million.  Full Article

Smith & Nephew says CFO Julie Brown to leave for Burberry
Monday, 11 Jul 2016 

Smith & Nephew Plc : Julie Brown, chief financial officer, will be leaving company in Jan. 2017 to join Burberry as chief operating and financial officer .Search for a successor to Julie is underway, and a further announcement will be made in due course.  Full Article

Burberry names Smith & Nephew's Julie Brown as new CFO
Monday, 11 Jul 2016 

Burberry Group Plc : Julie Brown appointed as new chief operating & financial officer . Reporting to chief executive officer, Julie Brown will join business and board in early 2017 . Julie is currently chief financial officer at global medical technology business Smith And Nephew Plc .Says Julie qualified with KPMG before working at ICI and AstraZeneca Plc.  Full Article

Smith & Nephew sells gynaecology unit to Medtronic
Wednesday, 18 May 2016 

Smith & Nephew Plc : Divestment and share buy-back . Signed a definitive agreement to divest its gynaecology business to Medtronic Plc (NYSE:MDT) for $350 million. . Gynaecology delivered revenue of $56 million in 2015, representing a little over 1% of group revenue. . Transaction is expected to be broadly neutral to adjusted earnings ('EPSA') in 2017, after share buy-back, . Share buy back is expected to commence shortly after completion in July 2016 . Proceeds will be returned to shareholders through a $300 million share buy-back programme. . Gross proceeds are before tax and costs. . Is expected that majority of gynaecology employees will join Medtronic . Davis Polk & Wardwell Llp served as counsel to Smith & Nephew and Ondra Partners acted as financial advisor. .Divestment and share buy-back.  Full Article

Smith & Nephew Plc acquires first-line cartilage repair product
Tuesday, 12 Jan 2016 

Smith & Nephew Plc:Acquires first-line cartilage repair product.Terms of the transaction were not disclosed.  Full Article

BRIEF-Smith & Nephew announces acquisition of Rotation Medical Inc​

* ‍ACQUISITION COST IS $125 MILLION AND UP TO A FURTHER $85 MILLION OVER NEXT FIVE YEARS, CONTINGENT ON FINANCIAL PERFORMANCE​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)