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Boston Scientific said Monday it won’t comment on reports rival medical device manufacturer Stryker made a takeover bid, which was first reported by The Wall Street Journal.

Stryker’s shares tumbled more than 4 percent, and Boston Scientific’s rose nearly 8 percent Monday in afternoon trading. They were halted before Boston released its statement.

“Boston Scientific … is aware of reports speculating that the company has been approached by Stryker Corporation regarding a potential acquisition.” the company said in a filing with the Securities and Exchange Commission. “Consistent with its practice, the Company does not comment on market rumors or speculation.”

A deal would unites two medical device giants into a powerhouse with a combined value of more than $110 billion, The Wall Street Journal reported, citing people familiar with the matter. Sources told the publication it was unclear whether Boston Scientific is receptive to the offer.

Read More at the Source: Boston Scientific shares rise on report Stryker made takeover offer

By: Michael Sheetz & Angelica LaVito

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