The board of directors of interventional device firm Guidant of Indianapolis said it has agreed to provide information to Boston Scientific and enter into discussions with the Natick, MA-based firm regarding its recent merger offer.
Boston Scientific offered to acquire Guidant this Monday in a deal valued at $25 billion, a premium of 14% over the most recent price agreed upon between Guidant and Johnson & Johnson.
Boston Scientific, responding to the offer by Guidant's board, said it is ready to begin confirmatory due diligence immediately. The firm stated that it expects to be in a position to sign a definitive merger agreement by the end of this month and looks forward to closing the transaction in the first quarter of 2006.
By AuntMinnie.com staff writers
December 8, 2005
Related Reading
Boston Scientific offers to buy Guidant, December 5, 2005
Boston Scientific inks Affinergy collaboration deal, November 1, 2005
Guidant launches cobalt chromium stent in Japan, October 7, 2005
FDA criminal investigators in Guidant probe -- NYT, September 29, 2005
J&J, Guidant merger gets European clearance, August 25, 2005
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