Dow Jones Real-Time News for InvestorsSM
12:59 p.m. 04/10/2006
NEW YORK (Dow Jones)--Abbott Laboratories' (ABT) $4.1 billion purchase of Guidant Corp.'s (GDT) vascular intervention and endovascular business will benefit Abbott because the deal includes the entire division, said Abbott Chairman and Chief Executive Miles White.
"Instead of just technology, we got the entire division: all the people, the talent, which is actually the best thing about it," White said on CNBC Monday.
Abbott is playing a role in Boston Scientific Corp.'s (BSX) $27 billion acquisition of Guidant by buying Guidant's vascular intervention and endovascular business and loaning Boston Scientific $900 million.
Abbott also is buying $1.4 billion in Boston Scientific common stock.
-By Alex Davidson, Dow Jones Newswires
