UPDATE: This is no rumor. It’s official, SYK has made a takeover bid for BSX. There is no news as to the price of the takeover, should it take place.
Boston Scientific Corporation (NYSE: BSX) started the day off relatively slow. However, minutes ago, the stock started to fly and was halted as a result of the overwhelming volatility. While the company has not released any news of its own, rumors are breaking that a takeover is on the horizon. Today, we’ll talk about:
- The takeover rumors;
- what we’re seeing from BSX as a result; and
- what we’ll be watching for with regard to the stock ahead.
BSX Heads For The Top On Takeover Rumors
As mentioned above Boston Scientific was off to a relatively slow start early on in the market this morning. However, minutes ago, the stock started to scream for the top. While the company didn’t release any news of its own as of yet, there are rumors breaking that suggest that the stock may be taken over soon. Rumor has it that Stryker Corporation (NYSE: SYK) is interested in taking the company over and may make an offer soon.
However, it’s important to remember that there has been no confirmation on either side of the fence. In fact, these days, rumors are one of the most common forms of market manipulation. So, if you’re going to trade on this news, please do so with caution.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Boston Scientific, the potential acquisition could lead to a strong return of value for investors. So, it’s no surprise that they are excitedly sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:38), BSX is trading at $35.41 per share after a gain of $3.46 per share (10.83%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BSX. In particular, we’re interested in following the story to see if there is any validity to the rumors of an acquisition on the horizons. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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