The agreement, which was announced on December 15, 2004, remains subject to European and US regulatory review, as well as other customary closing conditions.
The terms of the agreement provide for a collar that, under certain circumstances, could value the acquisition price at either more or less than the announced acquisition price of $76 per share.
Ronald Dollens, president and CEO of Guidant Corporation, commented, “Guidant’s strong innovative and entrepreneurial culture provides a foundation for an excellent strategic fit with Johnson & Johnson. We firmly believe this business combination offers an unprecedented breadth of capabilities and resources that will accelerate the growth of new therapies and technologies, benefiting millions of patients around the world.”