A Possible Mega Merger
J&J in talks to buy Guidant for $24 bln - NY Times
Tue Dec 7, 2004 01:13 AM ET
NEW YORK, Dec 7 (Reuters) - Johnson & Johnson (JNJ.N: Quote, Profile, Research) is in advanced talks to buy cardiovascular device maker Guidant Corp. (GDT.N: Quote, Profile, Research) for more than $24 billion, the New York Times reported on Tuesday.
The discussions have reached a sensitive point and a potential deal could still fall through because of the price, among other things, executives close to the talks told the newspaper.
There is hope that a final deal can be reached in the next week, according to the Times.
A deal would be the third-biggest in the United States this year behind J.P. Morgan Chase's (JPM.N: Quote, Profile, Research) $58 billion acquisition of Bank One and Cingular's (SBC.N: Quote, Profile, Research) (BLS.N: Quote, Profile, Research) $41 billion purchase of AT&T Wireless, the Times said.
It would also give Johnson & Johnson, based in New Brunswick, New Jersey, a significant presence in the market for defibrillators, pacemakers and similar products, the paper added.
Johnson & Johnson and Guidant could not be immediately reached for comment.
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