How ironic. The chap who runs the world’s biggest maker of hearing implants says he hasn’t heard a peep about a takeover bid.

Asked whether he knew of any interest in Medtronic buying his company, Cochlear ceo Chris Roberts says he has “no idea” whether a bid is in the offing. An analyst at ABN Amro, the investment firm, had just issued a note saying Cochlear could be an “attractive takeover candidate” for Medtronic, which is currently seeking acquisitions.

“I guess as a public company it’s always a possibility, but I don’t think there’s any magic in this” scenario, says Roberts, adding he hasn’t been approached. But then he questioned why ABN Amro’s David Stanton lists a target price for Cochlear stock that’s below the current share price if it considered Cochlear a potential target.

Cochlear’s share price has more than tripled in the past three years. The company, which competes mainly with Boston Scientific’s Advanced Bionics, holds around 70 percent of the global market for hearing implants.

Perhaps Roberts could use one of his own implants to keep track of market rumblings. Keeping his ear to the ground may not be working so well.

Source: Associated Press[tags]Boston Scientific, Cochlear, Medtronic[/tags]