Boston Scientific has raised its takeover bid for Guidant to almost $25 billion to wrest the cardiac-device maker away from rival suitor Johnson & Johnson (J&J).
Boston Scientific raised its offer by a dollar per share to $73 and made other concessions to appease Guidant's concerns about antitrust scrutiny and the timing of the deal's completion.
"Our amended offer addresses all of the outstanding issues raised by Guidant's board," said Boston Scientific Chairman Pete Nicholas.
The revamped bid came just one day after Guidant, which has suffered from product recalls and litigation over the safety of its heart devices, accepted a sweetened $23 billion offer from J&J.
Both J&J and Boston Scientific want to win Guidant and gain a greater share of the $10 billion market for devices that help regulate heart beats.
Guidant yesterday acknowledged receiving the amended offer and said its board would evaluate all aspects of the offer. J&J declined to comment.
