Nov 4 (Reuters) – Smith+Nephew confirmed on Wednesday that it approached Johnson & Johnson earlier this year about a potential merger with the US giant’s orthopaedics arm, but those conversations have now ended.
Reuters reported the talks in October, which collapsed over disagreements on who would run the enlarged group.
Smith+Nephew did not provide any details on why the talks ended.
The company, which has been grappling with weak growth in its Orthopaedics unit, cut its full-year revenue and profit forecasts as it expects the slowdown to persist through the final quarter.
It said it will also continue to explore strategic options for the business.
(Reporting by Yamini Kalia in Bengaluru; Editing by Harikrishnan Nair and Rashmi Aich)
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