There is no official comment from either Smith & Nephew or Biomet concerning a report of a possible deal between the two medical device companies.
The origin of the rumor seems to have started in Britian's Daily Mail then was picked up by Bloomberg News.
Bloomberg reported that a possible deal would consist of an $11.2 billion bid from Biomet to purchase the United Kingdom-based Smith & Nephew.
Biomet already had plans for expansion before news of a possible acquistion began.
In August, the Kosciusko County Council approved a tax abatement for Biomet that will help create 278 jobs at its Warsaw facility and allow for a $26 million capital improvements project.
Neither Biomet or representatives for Smith & Nephew offered comment this morning.
A representative from Brunswick, the media relations firm that works for Smith & Nephew, said it's the policy of Smith & Nephew not to comment on either rumors or ongoing dealings.
That sentiment was echoed by Biomet's Bill Kolter.
"We don't speculate on market rumors," said Kolter corporate vice president of government affairs, public affairs and corporate communication with Biomet.
When asked if there were any ongoing meetings between the two companies, Kolter reiterated that Biomet's policy is to not comment on market rumors.
