Analysts are eagerly digging into the news that Stryker (NYSE:SYK) put in a takeover bid with Boston Scientific (NYSE:BSX), though many were surprised by the news and are unsure of the obvious strategic value of the acquisition.
News of the deal, which both companies have officially responded to with statemens of “no comment,” emerged yesterday at the Wall Street Journal.
The merger could create a “higher growth Medtronic,” according to Evercore’s Vijay Kumar, adding approximately 2% to Stryker’s expected 2019 earnings per share and up to 6% by next year, SeekingAlpha reported.
