Boston Scientific Corp., Natick, Mass., made a definitive offer to buy Guidant Corp., Indianapolis, for $25 billion, having completed due diligence. The company also said that to address potential antitrust concerns, it would sell Guidant's vascular intervention and endovascular businesses and shared rights to Guidant's drug-eluting stent line to Abbott Laboratories for $4.3 billion, upon completion of the deal. Guidant said it is evaluating the offer, made on tentative terms in December. Guidant already has a $21.5 billion merger agreement with Johnson & Johnson and antitrust approval for the deal. Shareholders are scheduled to vote Jan. 31. J&J said ultimately its offer was a better value for Guidant shareholders and employees because J&J would invest the "resources necessary to enable Guidant to achieve a full and complete recovery in the cardiac-rhythm management market." J&J initially offered $25.4 billion for Guidant but lowered the price after several recalls of Guidant implantable defibrillators. -- by Joseph Mantone
Boston Scientific makes formal offer for Guidant
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