The less time they give Boston Scientific, the worse it is for Boston Scientific. They have less time to react.
The price wasn't as important as clearing up some terms and conditions. If Boston Scientific has done that, then I don't know why Guidant's board wouldn't accept this bid.
If you're a Guidant shareholder, you have to ask yourself whether you'd rather hold Boston paper or Johnson & Johnson paper. I would rather hold Boston, because I'm holding Guidant for growth.
What the FDA seemed to be saying is that it doesn't know if Boston Scientific has a systemic, corporate-wide quality policy, and until it does the FDA will not permit the company to gain product approvals in adulterated plants.
I haven't heard from a single Guidant shareholder who doesn't like the Boston Scientific deal.
I think investors do take insider buying as a good sign, and I think they especially wanted Boston Scientific to do it.
I don't believe these things are going to matter for Boston Scientific. This is a strategic deal for them and these are small perturbations along the way.
Boston Scientific will do everything in its power to reach a deal with Guidant.