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Visx Board Seeks Details on Icahn's Buyout Proposal

April 24, 2001|From Bloomberg News

Visx Inc., the biggest maker of lasers used to correct vision, asked financier Carl Icahn to present details of his $1.84-billion buyout proposal to its board.

Icahn, who has a 9.9% stake and is trying to oust the board and sell the Santa Clara company, on Friday offered $32 a share, a 54% premium to the shares' closing price the day before the proposal.

Visx said it's skeptical of Icahn's offer and considers it a ploy to gain votes for his slate of directors before the company's May 4 annual meeting. Icahn has said he intends to sell Visx to a larger company and has had discussions with two ophthalmic companies he's declined to identify.

Visx fell 59 cents to close at $23.16 on the New York Stock Exchange.

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