Paul Donovan
Paul Donovan
action bearing believe issue legal proposed threats
We believe this issue has no bearing on our proposed acquisition of Guidant. Unfortunately, threats of legal action are commonplace in our industry.
access changes designed ensure final fullest innovative possible recommend regulation
We will recommend changes designed to ensure that the final regulation preserves the fullest possible beneficiary access to innovative technologies and therapies.
agreement continue definitive diligence due forward goal move reaching
We continue to move forward with our due diligence with the goal of reaching a definitive agreement with Guidant.
agreement continue definitive diligence due forward goal move reaching
We continue to move forward on our due diligence with the goal of reaching a definitive agreement with Guidant. I don't think we're going to have anything more to say right now.
agreement continue definitive expect position sign weeks
We continue to expect to be in a position to sign a definitive agreement in the first two weeks of January.
agreement believe continue definitive diligence due employees forward goal johnson move offering potential proposal reaching revised strong upside
We continue to believe our $72 proposal is better for Guidant, its shareholders and its employees than Johnson & Johnson's revised offer. We are offering significantly more value, and there is strong upside potential over time. We continue to move forward on our due diligence with the goal of reaching a definitive agreement with Guidant.
agreement believe continue definitive diligence due employees forward goal johnson move offering potential proposal reaching revised strong upside
We continue to believe our $72 (per share) proposal is better for Guidant, its shareholders and its employees than Johnson & Johnson's revised offer. We are offering significantly more value, and there is strong upside potential over time. We continue to move forward on our due diligence with the goal of reaching a definitive agreement with Guidant.
businesses commodity costs empty lower moment problem production
Unfortunately, I don't think this is an empty threat. The problem for Philips is they are in such commodity businesses at the moment and production costs are much lower in Asia.
few
We should have things re-stocked in a few weeks.
belief economy home investors japanese money overseas seeing work
We are seeing a belief that the Japanese economy is recovering. The Japanese are going to keep their money at home and overseas investors are going to put more to work in Japan.
believe close
We believe we can close by the end of March.
alter belief manageable news
We factored in the possibility of something like this happening. This news is manageable and does not alter our fundamental belief in Guidant's long-term potential, which is significant and very much intact.
attention behind close developing direct full matter pleased products
We're pleased to close this chapter, and put this matter behind us. We can now direct our full attention to developing our life-saving products and technologies.
accelerate business combine expand footprint further innovators leading medicine natural resources rhythm strategy
If successful, we would combine the resources of two of the leading innovators in cardiovascular medicine and would expand our footprint into cardiac rhythm management. The Guidant acquisition is a natural outgrowth of our strategy to further diversify our business and accelerate growth.