My sense is J&J is going to have to acquire to get a growth rate that investors will think is respectable.
One thing the company loses by not being part of J&J is not having more money for market development education and training
People are Guidant's most important asset, ... so there are hard trade-offs for Guidant to work through.
The combination of Guidant and Johnson & Johnson is a stronger threat to Medtronic,
The combination of Guidant and Johnson & Johnson is a stronger threat to Medtronic.
The end of the fourth quarter looked better than the beginning, and 2006 is looking OK.
The less time they give Boston Scientific, the worse it is for Boston Scientific. They have less time to react.
The price wasn't as important as clearing up some terms and conditions. If Boston Scientific has done that, then I don't know why Guidant's board wouldn't accept this bid.
The problem that Johnson & Johnson and any company even half the size of Johnson & Johnson faces is buying something that can impact their growth rate, and that's not an easy task.
There was nothing in the earnings report that would renew investor interest.
There's a lot of frustration among institutional shareholders and employees who own the stock.
They could learn from each other.
They met our reduced expectations.
They might have passed the acid test of being too big.
They were being nickel-and-dimed by J&J. They had to get out of that loop.
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