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January 27, 2006 Categories: New articles Posted by admin
The pharmaceutical giant lost the bidding battle for Guidant, meaning it has plenty of cash for acquisitions. There are quite a few possibilities.
Johnson & Johnson (JNJ) finally blinked. After weeks of a bidding war, J&J walked away from its $71-a-share deal to acquire device maker Guidant (GDT). Guidant will now be bought by J&J rival Boston Scientific (BSX), which has agreed to pay $80 a share, or $27 billion, for the company. J&J’s consolation prize: a breakup fee of $705 million.
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