Paul Donovan
Paul Donovan
believe employees johnson offering potential proposal revised strong upside
We 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.
believe close
We believe we can close by the end of March.
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.
believe continue employees johnson offering potential proposal revised strong upside
We continue to believe our $72 (a 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.
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.
beat believe consensus estimates good met street wall
It was a very good quarter. We beat Wall Street consensus estimates for revenue, and we believe we met them for earnings.
believe close commission conclude date due easter europe few goal holiday pushes review week
The Easter holiday in Europe pushes the due date back a few days, but we still believe the Commission may conclude its review before that date, and our goal is still to close during the first week of April.
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.
consumers economy happening jobs less lose losing money spend vicious worried worry
What's happening is that consumers are worried about losing their jobs, and if consumers worry about losing their jobs, they spend less money -- so the economy slows down, so they lose their jobs -- it's a vicious circle.
expect impact issues property reviewed
We've reviewed the intellectual property issues and are comfortable proceeding with the transaction. We don't expect this issue to impact the transaction.
bigger cost dominate less margins profit remain
Rear-projection technologies will undoubtedly dominate from 50 in. onward. The incremental cost of making them bigger is much less and profit margins remain higher.
chance cycle happen interest quite rate reasonable reduction
I think there is a reasonable chance we will see another interest rate reduction before the cycle is over, but I don't think it is going to happen quite yet.
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.