NATICK, MA: Boston Scientific has tapped Joele Frank, Wilkinson Brimmer Katcher (JFWBK) to work on communications surrounding its proposal to acquire medical device maker Guidant.
The biotechnology company proposed the purchase of all outstanding Guidant shares at $72 per share for a transaction valued at $25 billion. The proposal tops Johnson & Johnson's initial proposal of $63.43 per outstanding share, or approximately $22 billion.
JFWBK referred calls to Boston Scientific, which did not return calls for comments regarding the agency. It was also unclear at press time whether Weber Shandwick, the company's AOR, had any involvement in communications surrounding the proposal.
Johnson & Johnson declined to discuss its communication plans, but the company has refused to raise its bid, which industry watchers believe is a sign that the pharmaceutical giant plans to walk away from its proposal.
Guidant said last week that the company's board agreed to hold discussions with Boston Scientific.