Boston Scientific Corp. has won the battle for Guidant Corp. after the Indianapolis-based heart devices maker said it ended an agreement with Johnson & Johnson, which first sealed an agreed bid for Guidant than a year ago.

Guidant and Boston Scientific issued a joint statement on Wednesday saying Natick, Mass.-based Boston Scientific will pay $80 a share in cash and stock or a total of $27 billion. Guidant entered the bidding late last year after J&J lowered its offer price due to a recall of certain Guidant devices. A bidding war then ensued with Boston Scientific unveiling the winning bid Jan. 17.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]