Grasshopper, Sinocare told J&J last December and January that all three (collectively) of its diabetic properties were worth $3 billion. J&J said no, they wanted $4 billion for the collection. Sinocare was apparently the only group bidding.

So to change the M&A environment, J&J enlists Platinum to propose $2.1 billion for Lifescan alone. Smart move, but risky. In fact the same move J&J made in 2015 with its Ortho property.

I do not think this stunt will scare up any new offers, but I might be wrong. And if Sinocare is going to up its offer for the three J&J properties, I think their December-January $3 billion offer may be raised to $3.05 or $3.1 billion. Will it be worth it? I am not sure.