Boston Scientific is surging following report Stryker has approached the company about a takeover (BSX)

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Shares of Boston Scientific are surging, up 10.7%, after the Wall Street Journal reported that Stryker has approached the medical-device manufacturer about a takeover. 

The move would create a combined entity worth more than $110 billion. Boston Scientific has not made it clear it is interested in the offer, the Journal says. 

The offer comes as part of a broader move to consolidate within the healthcare industry. Companies are responding to healthcare regulation as they seek lower costs and new avenues for growth. 

Stryker shares are down more than 2% on the news. 

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