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.
