Though earlier signs indicated that Johnson & Johnson was no longer interested in purchasing Guidant Corporation, the deal is now going forward. However, the purchase price, at $63.08 a share, is lower than the original agreement for J&J to pay $76 a share for Guidant. The original deal appeared to slow to a halt after J&J issued a statement about Guidant regarding safety concerns and Guidant’s recall of several heart devices. On November 7, Guidant attempted to force J&J to honor the earlier terms of the deal. The new deal is expected to close in early 2006.
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