This investment represents an extraordinary opportunity to position Guidant for leadership in the $3 billion global business for (cardiac rhythm management) devices, which we believe will be driven both demographically and technologically to increase significantly over the next few years.
This agreement makes sense for Guidant shareholders and employees. It amplifies the opportunity for us to do more for patients with cardiovascular disease through a union with Johnson & Johnson.
We believe the transaction and the strategic rationale for this combination are in the best interests of our patients, employees, customers and shareholders -- reflecting the full value of our firm.
We remain confident about Guidant's ability to rebuild ... market share. But that rebuilding will involve time, resolve and resources.
This agreement with Johnson & Johnson provides significant financial value and certainty for shareholders. Together with Johnson & Johnson, we will have the resources to continue to build upon the existing Guidant businesses in our pursuit of meaningful innovations to address cardiovascular disease.
This agreement with Johnson and Johnson provides significant financial value and certainty for shareholders.
It appropriately reflects the business challenges we have experienced in this period.
The board believes that it is in the best interest of shareholders to proceed with the merger agreement at the revised terms. Our enthusiasm for this agreement and its potential continues.
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