Boston Scientific Corporation (NYSE:BSX) settled one of the longest ongoing merger-related lawsuits on Tuesday, when it agreed to pay Johnson and Johnson (NYSE:JNJ) $600 million to settle an 11-year-old legal wrangling. Johnson and Johnson had claimed that Guidant Corp. — a medical device company that Boston Scientific acquired — did not play by the books when it chose to sell itself to Boston Scientific for a higher offer. Johnson & Johnson had had its eyes on the company back in 2004.
The amount, while sizable, is puny compared to the over $7 billion Johnson & Johnson was seeking in damages to dismiss the merger lawsuit pertaining to Guidant, which dates back to 2004. The case resurfaced after almost 10 years when Johnson & Johnson sued Boston Scientific for an amount that is alm...
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