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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (2092)	8/3/1998 10:53:00 PM
From: majormember	Respond to of 59879

OSTE news after market close...if offer is made and OSTE jumps to $35, the way DPU did...I'll send you all the golf balls you can hit into the Atlantic...Regards, Skane ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Monday August 3, 4:56 pm Eastern Time Deal seen near for Pfizer's Howmedica unit By Kevin Drawbaugh CHICAGO, Aug 3 (Reuters) - U.S. drug giant Pfizer Inc. was seen Monday as nearing a decision on divestment of its Howmedica orthopedics unit, with analysts tagging Swiss-owned Sulzer Medica Ltd. (SM - news) as a possible bidder for it. Pfizer has been expected to spin off Howmedica and analysts still did not rule that out, but they said that Sulzer has been openly shopping for a major orthopedics acquisition. ''Howmedica is for sale. Sulzer is buying. Everybody knows that, but I haven't heard anything specific,'' said Robin Young, medical technology analyst at Stephens Inc. Analysts put the market value of Howmedica, if it were sold and not spun off, at $1.5 billion to $3 billion. New York-based Pfizer in February said it would divest its three medical device units, including Howmedica, the world's third-largest maker of artificial hips and knees. The announcement helped start a wave of consolidation in the $9 billion global orthopedics market, topped so far by the late July agreement by Johnson & Johnson(JNJ - news) to acquire DePuy Inc. (DPU - news) from Roche Holding Ltd.(ROCZg.S) in a deal valued at about $3.5 billion. ''Our sense is that it's kind of down to the wire on Howmedica. If I had to bet, I would probably put Sulzer as the front-runner,'' said Katherine Martinelli, medical technology analyst at Cowen & Co. Sulzer, U.S. unit of Switzerland's Sulzer Medica AG (SMENn.S), said in June that it would sell its Intermedics subsidiary, a major manufacturer of cardiac pacemakers. Analysts said the sale may fetch more than $1 billion. After putting Intermedics on the block, Sulzer also said it was evaluating acquisitions in several markets, including orthopedics, heart valves, bone growthand vascular grafts. That shopping list suggested several possible Sulzer targets, in addition to Howmedica, analysts said. Among them could be Swiss-controlled orthopedic trauma devices maker Synthes Inc., as well as Osteotech Inc. (OSTE - news), which is developing a bone-growth agent, analysts said. They also said that major drug maker Bristol-Myers Squibb Co. (BMY - news) may be eyeing options for its Zimmer orthopedics unit, the world's largest artificial hip and knee maker. Sulzer in January completed a $595 million acquisition of Spine-Tech Inc., a maker of spinal fusion cages, the fastest-growing segment of the orthopedics market. Sulzer Medica AG is majority-owned by Swiss industrial giant Sulzer AG (SULZn.S) after a partial spin-off last year. ''We've been hearing things for weeks (on Howmedica) ... The rumor on an ongoing basis has been Sulzer,'' said Wade King, medical technology analyst at BancAmerica Robertson Stephens. Sulzer was seen as capable of getting financing for a major deal, even if it does not first sell Intermedics. ''I'm sure someone would lend them the money,'' said medical technology analyst Robert Faulkner at Hambrecht & Quist. More Quotes and News: Bristol-Myers Squibb Co (NYSE:BMY - news)