Beyond the Headlines, Columns-Drugs & Supplements, November 2005
October 26, 2005
J&J Purchases Guidant for $21.5 Billion NEW BRUNSWICK, N.J. - Johnson & Johnson revised its agreement with Guidant Corp. and will acquire the company for $21.5 billion, $3.9 billion less than what was previously offered, J&J announced on Nov. 15. The companies revised their agreement after J&J said that recent defibrillator and pacemaker recalls had a 'material adverse effect on Guidant' and said it was unsure whether it would complete the merger. J&J and Guidant originally entered into an agreement in December 2004. The transaction has an estimated net acquisition cost of $19 billion based …
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