Market Chatter: Smith & Nephew-J&J's Orthopaedics Merger Talks Reportedly Collapse Over Leadership

04:10 AM EDT, 10/23/2026 (MT Newswires) -- Merger talks between Smith & Nephew (SN.L) and Johnson & Johnson's (JNJ.F) orthopaedics arm reportedly failed at the last minute after the London-listed medical technology company refused to agree to the proposed leadership of the combined entity. London's Financial Times reported Friday, citing unnamed sources, that Johnson & Johnson wanted to appoint Namal Nawana, head of its orthopaedics division, to lead the new company. Nawana left Smith & Nephew as chief executive officer in 2019 amid a dispute over "pay demands." Smith & Nephew, meanwhile, insisted that its current CEO, Deepak Nath, should lead the combined entity, the sources told FT. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)