Boston Scientific Makes Surprise Bid for Guidant

Boston Scientific (BSX) has made a surprise bid to acquire Guidant for $72 per share, a premium of about 14 percent over the revised Johnson & Johnson/Guidant deal of $63.43 per share.  GDT is currently trading at $67.25, up $5.43 from Friday’s close.  Click here for a Reuters article with more details.

Update:  BSX's bid is composed of $36 in cash and $36 in BSX stock.  JNJ's original bid was $30.40 in cash and $45.60 in JNJ stock.  JNJ's revised bid (post recall, etc.) stands at $33.25 in cash and $30.18 in JNJ stock.  Click here for the BSX press release with more details.