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Johnson buy buzz

New York, April 16 (Reuters): Johnson & Johnson is in talks to buy Swiss medical device maker Synthes for $20 billion, according to a report on the Wall Street Journal website, citing people familiar with the matter.

A deal at that price will mark an 11 per cent premium over Synthes’ current market capitalisation of around $18 billion.

However, the talks were characterised as fragile and could fall apart any time, one person told the journal.

Synthes shares closed up 6.2 per cent in Switzerland, with traders citing market talk that the diversified health care company or US medical device maker Medtronic Inc could be interested in buying the company.

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