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Cochlear takeover bid by Medtronic possible

The New York Times is carried an article on a possible takeover bid for Cochlear by Medtronic.

The chief of Australian hearing implant company Cochlear Ltd. said Thursday he had "no idea" if U.S.-based Medtronic Inc. is interested in taking it over, but that such a bid was possible.

Broking house ABN Amro said in a research note Cochlear could be an "attractive takeover candidate" for Medtronic, which is currently seeking acquisitions.

The article then focuses on share prices:

Cochlear's share price has more than tripled in the past three years .....

Cochlear shares traded at around 63 Australian dollars on Thursday, valuing the company at A$3.46 billion ($2.8 billion). ABN AMRO has a A$57.25 target price on the stock, raising it this week from A$54.50 to take into account the possibility it may be a target.

See previously: Cochlear set to grow 20% in 5 years.

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» Cochlear Implants not value for money? from Grumpy Old Deafies
Wales is to get £750,000 for its cochlear implant programme, to implant 20 adults in 2007-08. That is £37,500 per person, this represents a 60% increase in the CI programme. From these figures, Wales implants 33.33 people each year. Wonder... [Read More]

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