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DEFINED CONTRIBUTION
NATICK, Mass. - Boston Scientific Corp. will likely merge the $1 billion hybrid defined contribution plan of Guidant Corp. with its own $731 million 401(k) plan after Boston Scientific acquires the cardiovascular products firm, according to consultants.
Last month, Boston Scientific announced plans to acquire Indianapolis-based Guidant for $27 billion.
Richard Duffy, vice president of corporate benefits at Boston Scientific, Natick, declined to comment. Erik Olsen, spokesman for the maker of medical devices, said it is too early to discuss the merger's effect on the retirement plans.
A spokeswoman for Keith Brauer, Guidant's chief financial officer, declined to comment.
The Vanguard Group, Malvern, Pa., is Boston Scientific's bundled provider, according to data from Money Market Directories, Charlottesville, Va. According to Boston Scientific's U-K filing for year-end 2004, the plan offers: the Vanguard 500 index fund; Vanguard Retirement Savings Trust, a...