Natick-based Boston Scientific appears to have the upper hand — at least for the moment — in the bidding war for control of medical device maker Guidant Corporation.
Guidant announced Tuesday that it had accepted Boston Scientific's new $27 billion offer, an increase of almost $3 billion over it's previous offer. The offer amounts to $80 per share. Boston Scientific's offer is funded and supported in part, by a partnership with pharmaceutical company Abbott Laboratories based in Illinois.
Johnson & Johnson now has five business days to counter Boston Scientific's offer.
For a look at the twists and turns in the deal we turn to Howard Anderson, professor of entrepreneurship at the MIT Sloan School of Management.
This program aired on January 18, 2006. The audio for this program is not available.