Smith & Nephew Inc. (SNN) Looks to Make Moves

8/6/2012 8:39:00 AM

British medical device company Smith & Nephew is still on the hunt for merger & acquisition deals. Smith & Nephew (FTSE:SN, NYSE:SNN) is on the hunt for buyout candidates, according to CEO Olivier Bohuon, ranging from a "bolt-on acquisition at $10 million to something much more significant." Armed with $221 million in cash and equivalents as of June 30, the British medical device company has plenty of dry powder on hand to make its move. And Bohuon said Smith & Nephew "will borrow for the right acquisition" during a conference call yesterday.

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