J&J starts backing away from Guidant

Like I said in August (Is J&J secretly cheering?), J&J is concerned enough about Guidant’s problems that it is now publicly discussing renegotiating or dropping its takeover bid. Since J&J has a clean reputation the FDA’s and public’s concerns about Guidant should decline once the company is under the J&J umbrella.

Look for the price to be renegotiated but for the deal to go through.

There’s an article about it in the Wall Street Journal (J&J is Weighing Its ‘Alternatives’ On Guidant Deal).

October 19, 2005

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