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BUZZ-Smith & Nephew drops as Stryker buys Sage Products

Reuters - UK Focus

** Smith & Nephew (LSE: SN.L - news) falls 3% on news U.S (Other OTC: UBGXF - news) . medical devices maker Stryker (Swiss: SYK.SW - news) to buy Sage Products for $2.78 billion

** Stryker long seen as potential acquirer of British-based S&N, which has a market cap of around 10 billion pounds ($14 billion)

** Earlier, S&N stock moved little on news CEO Olivier Bohuon has highly treatable form of cancer ($1 = 0.6996 pounds) (RM (LSE: RM.L - news) : ben.hirschler.thomsonreuters.com@reuters.net)