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November 15, 2005
J&J and Guidant settle
Johnson & Johnson and Guidant Corp. announced a revised acquisition deal this morning that values Guidant at $21.5 billion, about $4 billion lower than the original price, and settles the companies' lawsuit over J&J's decision to walk away from the previous deal because of a material adverse effect on Guidant's financial condition.
No word yet on how much of that $4 billion will make it into the "Spitzer for Governor" campaign war chest. ;^)
Posted by Tom at November 15, 2005 6:49 AM
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