It was interesting that earlier in the week shares of S&N rallied, but later fell as a Tweet allegding advanced interest from Stryker was effectively laughed at in the financial media.
The point to remember here is that in the world of M&A you really can never rule anything in or out, however ridiculous. For instance, one would presume only a fool would want to pay more for Sky than Fox (Rupert Murdoch should know what it is worth). But this week Comcast stepped forward.
In the case of S&N the strategic logic was and is that it should be underpinned by Activist Investors, and this could mean that anyone previously interest in the group might suffer some FOMO. We shall see.
What was actually the most appealing aspect in the past week, apart from the Tweet, was the way the stock melted through its 200 day moving average (like a blowtorch through butter), via not one but two as yet unfilled gaps. Unless a bucket of very cold water is poured over this situation, it is difficult not to be optimistic.
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