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Device maker Stryker has made a takeover approach to Boston Scientific: WSJ


(Reuters) - Device maker Corp has made a takeover approach to Boston Scientific Corp, reported, citing people familiar with the matter.

It is unclear whether Boston Scientific is receptive to the approach from Stryker, the paper reported.

Shares of Boston Scientific, which had market value of $44 billion as of Friday's close, surged 9 percent at $34.85, while shares were down 3 percent at $173.50.

had a market value of nearly $67 billion, as of Friday close.

"As a matter of company policy, we do not comment on potential M&A," Stryker said.

Boston Scientific did not immediately respond to requests for comment.

Boston Scientific lags behind Plc and in the heart valves market and has pinned its hopes on its updated Lotus device, set for launch in 2019, following the withdrawal of an from last year.

(Reporting by in Bengaluru; Editing by Shailesh Kuber)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 11 2018. 20:38 IST