Guidant Tells Judge J&J Can't Sue Over Botched $22B Merger

Law360, New York (July 25, 2012, 5:18 PM EDT) -- Guidant Corp. urged a New York federal judge Wednesday to nix Johnson & Johnson's suit alleging it breached a contract by scuttling a proposed $21.5 billion merger in 2006, saying J&J couldn’t sue because it failed to give notice of the supposed breach.

Guidant pushed its case for summary judgment during oral arguments in a Manhattan courtroom. The 2006 suit stems from J&J’s bidding war with fellow medical device giant Boston Scientific Corp. to acquire Guidant.

Boston Scientific won the bidding war with a $27 billion...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.