The reality is, JJ 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.
More Quotes from John Putnam:
I don't think JJ wants to walk away from the deal. I think they want a more equitable price for the company they're buying,John Putnam
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.
John Putnam
When JJ 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.
John Putnam
Reductions in reimbursement can cause momentary disruption in the revenue and income generation for some companies. But by and large, they have learned to offset these pressures.
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.
John Putnam
They still need to look to do as large an acquisition, with as much growth, as possible. It's a huge company, and it's hard to get the top line to grow because the base is so big.
John Putnam
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