Swiss medical technology group Synthes said today it is in takeover talks with US healthcare giant Johnson & Johnson, after media reports of a possible deal worth around $20 billion (€14 billion).
'In response to market speculation, Synthes confirms that it is engaged in discussions with Johnson & Johnson about a potential business combination transaction,' the medical equipment maker said in a statement.
It added it could not give further details or any assurances about potential transactions.
The Wall Street Journal reported on Friday that the US group is in talks to buy Synthes in a deal that could be valued at around $20 billion. Such a transaction could boost Johnson & Johnson's medical equipment business, which made up 40% of its 2010 revenues.
