Shares in Smith & Nephew (SN.L), Europe's largest maker of replacement knees and hips, jumped 10 percent on Monday after a report it received a bid report last month, although it did not inform its shareholders of the fact. U.S. rival Johnson & Johnson (JNJ.N) made a 7 billion-pound ($10.9 billion) takeover approach that was turned down as inadequate by the British group, Sky News said at the weekend, without citing sources. Johnson & Johnson (J&J) was considering whether to return with a higher offer, after its indicative bid of more than 750 pence a share was turned down as too low, Sky added.
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