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news.Johnson & Johnson and Guidant Corporation have been notified, as anticipated, that the European Commission has decided to open a second phase review into the proposed acquisition of Guidant.
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The European Commission will have 90 working days, subject to possible extensions, to issue an opinion on the matter.
Johnson & Johnson and Guidant Corporation said that they will continue to work closely with the European Commission to address any questions that may arise during the course of the detailed review procedure. The two companies continue to expect the acquisition, first announced in December last year, to close in the third quarter of 2005.
Guidant Corporation develops, manufactures and markets a range of products and services enabling less invasive care for some of the most threatening cardiac and vascular diseases. The company recently reported record first quarter sales of $953 million, representing sales growth of $19 million or 2% versus the prior year.