Guidant, the US healthcare company, said yesterday that it is ready to enter into discussions with rival Boston Scientific about its $25bn (€21.3bn) offer for the company. It is the largest M&A transaction involving competing bids in the last 12 months.

Boston Scientific made its bid for Guidant at the beginning of this week even though rival Johnson & Johnson agreed to buy Guidant in December 2004 for $25.4bn.