Correction: Update: Market Chatter: Johnson & Johnson Orthopedics, Smith & Nephew Merger Collapsed Over Leadership Dispute

10:41 AM EDT, 10/23/2026 (MT Newswires) -- (Corrects to clarify that Smith & Nephew declined to comment and updates the second paragraph with more information). Johnson & Johnson's (JNJ) orthopedics business' proposed merger with Smith & Nephew (SNN) collapsed over a disagreement on who would run the company, the Financial Times reported Friday, citing people familiar with the matter. Johnson & Johnson reportedly planned to appoint Namal Nawana, head of its orthopedics division, to lead the proposed combined $34 billion medical technology company. Nawana was the former chief executive of Smith & Nephew and left in 2019 over a pay dispute. Smith & Nephew, however, wanted CEO Deepak Nath to remain in the role, the report said. Smith & Nephew declined to comment, while Johnson & Johnson did not immediately reply to MT Newswires' request. (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.) Price: 263.50, Change: -4.11, Percent Change: -1.54