Boston Scientific (NYSE: BSX) upped their buyout offer for Guidant (NYSE: GDT) once again in hopes of wresting the company away from Johnson & Johnson (NYSE: JNJ). The new bid is higher than the original J&J offer, which had been lowered when Guidant's regulatory problems became a concern for J&J. Confused? Well, here's a timeline of the whole affair to bring you up to speed. I suspect we haven't seen the last chapter of this DVD quite yet.
By the way, if Boston Scientific pulls this off, it will be quite an accomplishment. Their latest buyout offer is for over $25 billion but their market cap is only around $19 billion.
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