Boston's overall sales growth is going to slip to 5 percent in the second half of this year and go flat in 2006. The new-product portfolio Boston is piecing together can restore double-digit earnings and sales growth, but it will probably take until 2009.
Boston Scientific has a couple of more weeks if needed to complete due diligence.
It seems like (Johnson & Johnson and Boston Scientific) are going to dominate the market at least through '06.
Even with the new components of the Boston offer, we don't think Guidant's board will get comfortable enough with the aforementioned antitrust issues and the extra $1.