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Medical device maker Guidant Corp. said Wednesday it still believed its acquisition by Johnson & Johnson makes strategic sense, the day after the company's stock plummeted when Robert J. Daretta, the CFO of J&J, said it was considering alternatives to the $25.4 billion deal. Daretta's statement was the first public indication the acquisition may be in trouble, rather than just delayed. According to documents filed with the SEC, if J&J walked away from the deal, it would have to pay Guidant $700 million.
October 20, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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