Menu
Equities Tech By Region Services UK USA and North America Pharmaceuticals & Health

Smiths share price steady as group scraps merger talks with ICU

Share this article!

Shares in Smiths Group (LON:SMIN) have climbed higher in London in today’s session, holding steady as the company confirmed that it had scrapped talks about a potential combination of its Medical business with ICU. The news comes after it emerged last month that the London-listed group was leaning towards a decision to halt the negotiations.

As of 14:08 BST, Smiths’ share price had added 0.57 percent to 1,576.50p, outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.02 percent higher at 7,315.00 points. The group’s shares have lost about 2.5 percent of their value over the past year, as compared with a near one-percent fall in the Footsie.

Smiths and ICU scrap merger talks

Smiths Group announced in a statement today that its discussions with ICU over a potential combination of its medical business with the Nasdaq-listed group had ended because the parties had been unable to agree the terms of a combination. The company, however, noted that it was “important that any such combination did not undervalue Smiths Medical and its prospects”.

“We have ended discussions with ICU today after careful consideration and in the interests of our shareholders,” the FTSE 100 group’s chief executive Andy Reynolds Smith said in the statement.

Smiths Group added that it will “continue to review all options for its businesses”.

Analysts on FTSE 100 group

The 12 analysts offering 12-month price targets for Smiths Group for the Financial Times have a median target of 1,740.00p on the shares, with a high estimate of 2,000.00p and a low estimate of 1,600.00p. As of September 7, the consensus forecast amongst 15 polled investment analysts covering the blue-chip group has it that the company will outperform the market. 

As of 14:42 BST, Thursday, 13 September, Smiths Group plc share price is 1,571.50p.

Add Comment

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.