Boston Scientific's stock soars after report of buyout approach from Stryker

Shares of Boston Scientific Corp. shot up 8.3% toward a 13-year high in morning trade Monday, after The Wall Street Journal reported that the medical device company received a buyout approach medical technology products company Stryker Corp. Stryker's stock slumped 3.3%. The WSJ report said it was unclear whether Boston Scientific was receptive to Stryker's approach. Boston Scientific's stock was trading at levels not seen since February 2005. At current prices, Boston Scientific had a market capitalization of $47.76 billion, while Stryker's market cap was $64.65 billion. Boston Scientific's stock has run up 24.4% over the past 12 months, while Stryker shares hve climbed 21.9% and the S&P 500 has gained 14.4%.