Boston Scientific Corp. upped its bid for Guidant Corp. to $27 billion from $25 billion in its third offer for the company. Guidant has a long-standing agreement to merge with Johnson & Johnson and amid the bidding war reached a revised agreement, with a new $24.2 billion price tag, with J&J late last week. Guidant shareholders are scheduled to vote on the J&J deal Jan. 31. Boston Scientific gave Guidant's board until 5 p.m. Eastern today to declare its latest offer superior to J&J's bid. If the board does so, the offer will remain open until Jan. 25. At deadline, Guidant said it was considering Boston Scientific's latest offer. J&J had not issued a public statement. Boston Scientific also said it has amended an agreement with Abbott Laboratories, which will buy Guidant's vascular business line if a deal is completed. Abbott now would pay $6.4 billion, up from $4.3 billion, for the business and stock; the deal includes a loan from Boston Scientific. -- by Joseph Mantone
Boston Scientific raises Guidant bid to $27 billion
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