Advisory firm recommends Guidant deal
Boston Scientific Corp. of Natick won the endorsement of a key shareholder-advisory firm today when Institutional Shareholder Services Inc. recommended a vote in favor of the company's takeover of Guidant Corp. of Indianapolis. The report found a "compelling strategic rationale" for the merger, saying Guidant's line of implantable pacemakers and defibrillators would give Boston Scientific a more balanced lineup of medical devices. Shareholders of both companies are scheduled to vote on the $27 billion merger March 31, and Boston Scientific expects to close the deal the first week of April.
Shares of Boston Scientific climbed 88 cents to $23.50, nearly a 4 percent gain. Shares of Guidant climbed 94 cents to $78.82, up 1 percent.
(By Stephen Heuser, Globe staff)
