The intervention at 115 was pretty ineffective and they don't want to waste money again. The Bank of Japan would not be happy about defending 110 yen.
More Quotes from Paul Donovan:
We continue to believe our 72 (per share) proposal is better for Guidant, its shareholders and its employees than Johnson Johnson's revised offer. We are offering significantly more value, and there is strong upside potential over time. We continue to move forward on our due diligence with the goal of reaching a definitive agreement with Guidant.Paul Donovan
We continue to move forward on our due diligence with the goal of reaching a definitive agreement with Guidant. I don't think we're going to have anything more to say right now.
Paul Donovan
We factored in the possibility of something like this happening. This news is manageable and does not alter our fundamental belief in Guidant's long-term potential, which is significant and very much intact.
Paul Donovan
We've reviewed the intellectual property issues and are comfortable proceeding with the transaction. We don't expect this issue to impact the transaction.
Paul Donovan
If successful, we would combine the resources of two of the leading innovators in cardiovascular medicine and would expand our footprint into cardiac rhythm management. The Guidant acquisition is a natural outgrowth of our strategy to further diversify our business and accelerate growth.
Paul Donovan
We're pleased to close this chapter, and put this matter behind us. We can now direct our full attention to developing our life-saving products and technologies.
Paul Donovan
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