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 INDIANAPOLIS (AP) - Legal problems for struggling medical device maker Guidant grew Friday as a deadline to close a $25.4 billion acquisition by Johnson & Johnson passed with no apparent movement by either side.
The two companies had a self-imposed deadline to close the deal Friday, but efforts stalled Wednesday when New Brunswick, N.J.-based J&J said it might not proceed because of sweeping recalls and regulatory investigations that have hit Guidant since June.
J&J spokesman Jeffrey Leebaw declined to comment Friday on the status of the deal. Steve Tragash, a spokesman for Indianapolis-based Guidant, also declined to comment.
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