BOSTON: Medical device maker Guidant Corp. on Friday night accepted an increased $24.2 billion (euro20 billion) buyout offer from Johnson & Johnson, turning aside a larger bid of nearly $25 billion (euro20.77 billion) from Boston Scientific Corp. in favour of a deal that Guidant hopes could be concluded more quickly.
The joint announcement of J&J's bid and Guidant's acceptance came about 24 hours after Boston Scientific increased its offer by about $330 million (euro274.11 million) to $24.98 billion (euro20.75 billion), and about three hours after passage of a deadline Boston Scientific had set for Guidant to respond.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
