Please login to the form below

Not currently logged in
Email:
Password:

Bausch & Lomb allows bid rival to discuss offer with shareholders

Bausch & Lomb grants rival bidder Advanced Medical Optics (AMO) ìlimited permissionî to discuss its USD 4.2bn take over offer with selected shareholders

Bausch & Lomb has granted rival bidder Advanced Medical Optics (AMO) ìlimited permissionî to discuss its USD 4.2bn take over offer with selected shareholders.

The German ophthalmology company is staying with the original USD 3.7bn buyout deal from New York-based private equity firm, Warburg Pincus.

Bausch & Lomb says it is 'uncertain' that Advanced Medical Optics, which is the third largest lens solution manufacturer after Alcon and Bausch & Lomb, could win shareholder approval for its cash-and-stock counter bid.

Advanced Medical's third-largest shareholder, San Francisco-headquartered ValueAct Capital, has already opposed the takeover.

According to media reports, Bausch & Lomb has continued to recommend the pending purchase offer from Warburg Pincus in a letter from the board sent on 29 July to Advanced Medical's CEO, James V Mazzo.

The letter gives Advanced Medical until 12pm on 3 August to provide evidence of its ability to secure approval from stockholders.

31st July 2007

Share

PMEA Awards 2020

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Madmicrobe Studios

MadMicrobe is an award-winning team of certified medical illustrators creating animations that draw audiences into a world of suspense, excitement,...

Latest intelligence

#DemandDiversity: For International Women's Day, we ask... why do women often suffer from more side effects than men?
Women are largely prescribed exactly the same treatment regimens as men, with no account for the underlying differences in physiology and drug metabolism between the sexes....
Good design saves lives
Good design and creative thinking are essential if we are to improve on existing problems in new ways, which is why design and creativity within healthcare is vital. Health is...
Why you must understand the pricing of patient recruitment companies
Recruiting a diverse range of patients and engaging with them for your clinical trial isn’t an easy task, which means you might turn to patient recruitment companies, like us, who...

Infographics