Thoughts on lawyers, dealmaking, M&A and other quirks of corporate life.
Tuesday, November 15, 2005
J&J - Guidant Back On
Also not surprisingly, J&J and Guidant negotiated a new price - a $4B discount off the original price. Nice work by J&J. It's unusual enough for a buyer to invoke the MAC clause, but this discount - nearly 20% off the original price - is huge, and is likely well in excess of the drop in Guidant's value caused by post-signing events.