Guidant (GDT) Message Board

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Biotech / Medical : Guidant (GDT)

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To: Lighthouse who wrote (194)	3/7/2002 3:04:31 PM
From: Lighthouse	Read Replies (1) of 235

Scratch the small niche acquisition talk. Much more likely that GDT is talking to Cook about possible acquisition IMHO. Cook is in a number of lines that GDT probably does not want to play in, but GDT cannot afford to let the paclitaxel stent slip from their fingers. If the BSX/Cook/GDT dispute goes against GDT in June - then these talks would have to heat up quickly. By a rough back of envelope calculation GDT should be net debt free by Q3-Q4 2002. Borrowing capacity is plentiful, but Cook would obviously see the semi desperation in GDT's entreaties and command a nice premium. Nice premium equals dilution. The stent news today is bad on two fronts: 1) I had held out a remote chance that Actinomycin D stent would work as it was an in house program that held higher margins. 2) The June BSX/Cook dispute looms very large. Cheers

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