Guidant takeover won’t hit jobs

THE proposed €18 billion takeover of Guidant by Johnson & Johnson is not expected to impact on the creation of more than 1,300 new jobs planned independently by the companies in Cork and Clonmel.

Industry sources do not expect either project to be scrapped in the event of a successful takeover, but cautioned: “In a takeover situation you can never be too sure what cost savings will be identified. The Irish operations of these companies are set for fair growth and it would be a major surprise if something was to go awry,” a source familiar with the deal said.

Johnson & Johnson, the world’s biggest maker of medical devices, is in talks to buy Guidant Corp for €18bn and may reach an agreement in the next few days.