(23 quotes found)
“I don't think J&J wants to walk away from the deal. I think they want a more equitable price for the company they're buying,”
John Putnam
“Whoever doesn't get this company is going to be the lucky one. If I were Boston Scientific, I'd certainly find something wrong in my due diligence to walk away from this.”
“One way or another someone is going to buy this company, but I don't think they're going to be happy with what they end up with. These guys have constantly over-promised and under-delivered.”
“I think that's an admission that they're trying to renegotiate the price or get some kind of concession for what is damaged property,”
“The reality is, J&J probably doesn't care, ... It has the money to pay whatever breakup fee is involved. I don't see somebody else walking in here and picking up Guidant.”
“It's a victory for J&J, ... I think it's a recognition that Guidant's franchise has at least sustained some near-term damage. Whether they can correct that and when they can correct that is going to be a question going forward.”
“I have maintained all along that J&J was paying far too much for Guidant. They would pay a higher multiple for St. Jude, but it would be a higher quality situation.”
“It might reflect that Guidant knows that it has some troubles, and it may see a safety net here. Maybe Boston Scientific has signaled to Guidant that the situation has too many problems, and it may be pulling back.”
“Let's put it this way. Last March when I initiated coverage of J&J, I thought they were overpaying for Guidant. This was before problems arose from the recalls. I believe that's still the case. This has gotten to be an irrational price.”
“When J&J lowered the price and came in at $63 a share, it was probably closer to what is the real worth of Guidant. The only thing I can say is this behavior, certainly the behavior of Boston Scientific, is not rational here. I just think they are playing a very dangerous game.”
