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Guidant gives green light to Boston Scientific Offer

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Guidant Corp. has accepted Boston Scientific’s acquisition offer of about $27 billion in cash and stock. Boston Scientific had been vying with Johnson and Johnson for a chance to acquire Guidant and gain entry into the fast-growing $10.3 billion cardiac-rhythm management market. Boston Scientific’s enthusiasm for the merger was not dampened by Guidant’s 1-23-06 announcement that it was enlarging its previous recall of nine of its pacemaker models.