According to an agreement between the medical-device companies, Boston Scientific will acquire Guidant for combination of cash and stock worth $80 a share, or about $27 billion. Guidant shares were 20 cents lower at $73.77 Monday. Boston Scientific's shares fell 10 cents to $21.70.
, the drug and device company, will acquire Guidant's vascular intervention and endovascular businesses. Abbott will also share the rights to Guidant's drug-eluting stent program with Boston Scientific to help it secure antitrust approval for the proposed acquisition.
The notifications Boston and Guidant filed relate to the premerger notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
In December, Boston Scientific started a bidding war with
Johnson & Johnson
to acquire Guidant, but J&J declined to go higher than its initial $76-a-share offer it made prior to Guidant's recall of tens of thousands of pacemakers and defibrillators. J&J's final offer was $71 a share.