The other big story of the day remains the news that Johnson & Johnson may walk away from its $25.4 billion deal with heart device maker Guidant, a merger that many healthcare analysts had expected to transform the industry. Is Johnson & Johnson's talk about abandoning the deal for real? One observer likens the situation to "a high stakes game of chicken." J&J reportedly wants to renegotiate a share price in the "low to mid sixties." Guidant is arguing that the company is worth much more and is fighting for a price in the "high sixties to low seventies."
- see this article from The New York Times
ALSO: As if things weren't bad enough already for the device maker, New York Attorney General Eliot Spitzer announced a new suit against Guidant, charging the company with failing to disclose problems with the Ventak Prizm 2DR Model 1861. Article