Guidant Takes J&J's Revised Bid

Guidant (GDT) accepted a revised bid from Johnson and Johnson (JNJ). J&J will pay $23.3 for Guidant, which is lower than the $25 billion bid from Boston Scientific (BSX). J&J's bid is higher than their previous offer of $21.5 billion in cash and stock. Look for Guidant's stock to sell off a bit Thursday morning and keep an eye of St. Jude Medical (STJ) and Medtronic (MDT) to trade higher on the news.