Paul Donovan
Paul Donovan
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 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 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.
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.
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.
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.