Press Release: Mergers: Commission approves takeover of Guidant Corporation by Johnson & Johnson, subject to conditions

The European Commission on 25 August 2005 approved under the EU Merger Regulation the planned $24 billion (around €18 billion) acquisition by US healthcare group Johnson & Johnson (J&J) of its competitor Guidant, a US company specialised in cardiovascular medical products, subject to conditions. In particular the parties had to divest either J&J or Guidant Endoscopic Vessel Harvesting products ('EVH'), plus Guidant's EEA endovascular business and J&J's EEA Steerable Guidewires business. The Commission decision followed an in-depth investigation into the takeover. In light of the commitments given by J&J, the Commission has concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or a significant part of it.

• Primary Source

European Commission: DG Competition: Merger cases: M.3687 http://ec.europa.eu/comm/competition/mergers/cases/index/m73.html

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