Johnson and Johnson guns for Cordis
This article was originally published in Clinica
In its first ever hostile offer, healthcare conglomerate Johnson & Johnson is aiming for cardiology specialist Cordis. At a proposed $100 a share, the deal would be worth some $1,600 million. J&J would, however, prefer a peaceful settlement and says it has offered $105 a share for a negotiated stock-for-stock merger. Cordis reacted by stating it has no "definitive comment at this time", but its board and management will evaluate the J&J proposal.