Smith & Nephew To Acquire ArthroCare For $1.7B

Smith & Nephew PLC

announced its plans to buy ArthroCare

for $1.7 billion in cash. Smith & Nephew will pay $48.25 per share in cash to acquire ArthroCare, representing a 6.3% premium to ArthroCare's closing shares price on January 31. ArthroCare shares fell 0.46% to close at $45.38 on Friday.