Will the Guidant Board do what they did when Johnson & Johnson had their agreed offer on the table but the deal still had not closed, that is nothing. This period between the offer is accepted and the deal is closed is a limbo period, where the Guidant Board did nothing and events led to a forced reduction in price.
During the limbo period the business needs to be run as aggressively and efficiently as before and not left to linger as if no one is responsible.
Onésimo Alvarez-Moro
See article:
Boston Scientific, the US medical devices group, has pledged to sell two businesses to Abbott Laboratories for about $4.3bn in cash if it emerges victorious in the takeover battle over Guidant, the maker of heart stents and defibrillators.
The deal with Abbott should help Boston Scientific's chances of gaining quick regulatory approval for its $25bn offer for Guidant which was made formal on Sunday night after the Massachusetts-based company spent several weeks studying Guidant's confidential financial information.
See full Article.
Also see Boston Scientific offer Press Release.
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