- Boston Scientific (NYSE:BSX) is poised to ink a settlement agreement with the IRS related to a disputed tax liability related to transfer pricing issues for Guidant for the years 2001 - 2006 and BSX's tax years 2006 and 2007. If the settlement is finalized, BSX will pay $275M plus accrued interest.
- The IRS asserted that the company owed $1.162B plus interest related to transfer pricing between domestic and foreign subsidiaries of Guidant. The IRS also proposed adjustments related to the financial terms of BSX's deal with Abbott Laboratories (NYSE:ABT) pertaining to the sale of Guidant's vascular intervention business to Abbott in April 2006 (details are on page 99 of BSX's 2015 10-K).
- Boston Scientific acquired Guidant for $27B in early 2006.