J&J, GUIDANT DEAL CLEARED BY EU
The European Commission has approved Johnson & Johnson's (J&J) planned $25.4 billion takeover of medical devicemaker Guidant subject to a number of conditions.
To ensure fair competition in the EU's 25 member states, J&J had to agree to sell several businesses that make surgical products. "The parties must divest either J&J or Guidant Endoscopic Vessel Harvesting products, plus Guidant's EEA endovascular business and J&J's EEA Steerable Guidewires business," the Commission said in a statement.
J&J and Guidant said they expect a decision by the Federal Trade Commission in October. J&J also said it was continuing to work with Guidant "to understand and evaluate the impacts of the various field actions announced by Guidant during the past several months."