Boston Scientific’s latest bid for embattled heart device maker Guidant begs the question this morning – what is Guidant really after?
The Indianapolis-based device company, which ran into trouble last year amid product recalls and falling revenue, accepted a reduced offer price from New Brunswick, N.J.-based Johnson & Johnson in December of $21.5 billion, 15% less than its initial $25.4 billion.
Meanwhile, a $25 billion offer from Natick, Mass.-based Boston Scientific Corp., turned Guidant’s head last week, but when J&J came back with a $24.1 billion offer, Guidant accepted it.
Now, with $27 billion on the table for Boston Scientific, the next Guidant move should be telling, whether the company is out for more money or for a quick and easy takeover that Johnson & Johnson might offer. But for now, one thing is certain – there’s nothing speedy about this saga. —Carolyn Murphy
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