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OSIR - Smith & Nephew: Osiris Looks Like A Nice Bolt-On Deal
Osiris Therapeutics Inc.
Smith & Nephew (SNN), which is often named as a key acquisition target, actually made quite a nice bolt-on deal itself as it is acquiring Osiris Therapeutics (OSIR) in a $660 million deal.
The deal is somewhat surprising as the company only recently was reportedly interested in NuVasive (NUVA), as Smith & Nephew seems to act proactively rather than being bought out itself. Despite the arguably nice bolt-on deal, I am not in a rush to buy shares at these levels despite reasonable valuations and improving growth.