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December 5, 2005

Boston Scientific bid was in the market, Mon., Dec. 5, 2005, 10:15 AM

The acquisition of Guidant by JNJ is widely believed to be an important one for JNJ shareholders. Early Thursday morning last week, insiders got wind of a competing $25 billion bid for Guidant by Boston Scientific. The problem is that these people cannot keep a secret, and cannot stop the urge to rip off the public trader.

This morning Boston Scientific released public news of their bid for Guidant. But this chart, comparing JNJ (a Dow 30 component) to the Dow Industrials Index (blue), shows me precisely when that leak found its way into the marketplace.

Spitzer, it's time to do your job. Obviously, the SEC will be asleep at the switch.

Posted by Posted by Bill Cara on December 5, 2005 10:15:07 AM | Category: U.S. Dow 30

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