Board's rejection is justified, in my view, given quality of business, time needed to digest latest acquisitions and standalone prospects. Long SNN LN, TP 915p. Upside may come from a knock-out offer.
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.