It’s not top dollar, but it’s good enough for Guidant Corp.
After a day of tense speculation whether Johnson & Johnson would remake its bid to buy the Indianapolis medical devices maker, the two companies announced late Wednesday a new deal. J&J has agreed to pay $23.2 billion, or $68.06 per Guidant share, up from its previous offer of $63 per share. For each Guidant share, J&J is offering $37.25 in cash and 0.493 shares of common J&J stock. The new offer comes as Guidant was weighing an upstart, $72-a-share bid from Boston Scientific Corp. of Natick, Mass.
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