Boston Scientific is jumping into the J&J/Guidant deal, making an unsolicited bid for Guidant that would restore the originally agreed price of about $25 B. J&J thought it had forced Guidant to take a lower offer after Guidant had a string of missteps after the initial deal was announced.
Wouldn’t it be ironic if the result of the competitive bidding is a higher ultimate price than if Guidant hadn’t screwed up along the way?
The Boston area has been worried about its loss of major corporate headquarters through acquisitions. Gillette is the most recent acquiree. This would certainly be a welcome reversal among politicians.December 5, 2005