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| Name | Symbol | Market | Type |
|---|---|---|---|
| Smith and Nephew Plc New | NYSE:SNN | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.16 | -0.65% | 24.45 | 24.575 | 24.35 | 24.46 | 367,453 | 16:52:05 |
From Apr 2019 to Apr 2024
By Ian Walker
LONDON--Smith & Nephew PLC (SN.LN) said Wednesday it is selling its gynecology business to Medtronic PLC (MDT) for $350 million, and will return the net funds to shareholders via a share buy-back program.
The global medical technology business said it expects to complete the sale in July and will start a $300 million share buyback program shortly after.
The gynecology business generated $56 million revenue in 2015, which represented about 1% of the group's total. The company expects the deal to be broadly neutral to adjusted earnings in 2017.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
May 18, 2016 08:26 ET (12:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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