The heart-pounding battle over Guidant Corp. finally has a victor
this morning
A year after agreeing to be acquired byJohnson & Johnson, Guidant
announced this morning it would accept a $27 billion offer from Boston
Scientific Corp.
The announcement ends a contentious and protracted struggle for control over
the heart devices maker. J&J will receive a $705 million break-up fee after
allowing last night's deadline for a counter-offer to lapse. Although the
company could conceivably make another overture for Guidant, few expect J&J
to try and top the winning $80 per share bid from Boston Scientific.
No matter who emerges victorious in the historic battle for control of
Guidant Corp., company shareholders will receive a substantial portion of
their consideration in the form of the victor's stock.
Guidant chooses Boston
Scientific
Structuring the
Guidant deal
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