Merrill Lynch, Banc of America Securities and Bear Stearns look set to win the fees in the battle for Guidant, as the US healthcare company's board said the increased $27.2bn (€22.6bn) offer from Boston Scientific is "superior" to a competing bid from rival Johnson & Johnson.

Boston Scientific yesterday increased its bid to $80 per share from its raised offer of $73 per share last Friday. That evening Guidant's board accepted a new $71 offer from Johnson & Johnson, allowing Boston Scientific's $73 bid to expire.