Smiths Group in talks over £6bn deal to avoid activist pressures
Engineering giant Smiths Group is in talks to merge its healthcare arm in a £6bn transatlantic deal, according to reports.
The business has begun talks with companies including US-listed ICU Medical about a possible combination of their healthcare operations, Sky News reported today.
Read more: Smiths slips as revenues miss targets
Smiths has a current market value of around £2bn. Its healthcare unit could be worth around £2bn, according to reports.
However revenue within the unit has been falling, and Smiths has been throwing its weight behind returning it to profitability.
The company is not in exclusive talks with ICU, and a deal will likely be some way off.