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BUSINESS
August 4, 2007 | From Times Wire Services
Bausch & Lomb's board recommended that shareholders approve a proposed $3.67-billion takeover of the company by private equity firm Warburg Pincus after Advanced Medical Optics Inc. withdrew a higher offer. The stockholders will vote on the plan at a meeting Sept. 21, Rochester, N.Y.-based Bausch & Lomb said in a letter filed with the Securities and Exchange Commission. Advanced Medical withdrew its $4.3-billion bid for the contact lens maker Wednesday.
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BUSINESS
March 26, 2012
Ista Pharmaceuticals Inc., the Irvine maker of eye medications that fought off a hostile takeover bid this year, agreed to be bought by Bausch & Lomb Inc. for $500 million. Bausch will pay $9.10 a share in cash for Ista, and the deal should close in the second quarter, the companies said Monday. The bid from the Rochester, N.Y., eye-care company, owned by Warburg Pincus, is 8.6% higher than Monday's closing price for Ista of $8.38 a share. Ista, which sells Istalol for intraocular pressure and Bromday for issues associated with cataract extraction, rebuffed a $327-million hostile bid by Valeant Pharmaceuticals International Inc., calling it "grossly inadequate.
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BUSINESS
August 2, 2007 | Daniel Yi, Times Staff Writer
Eye-care products maker Advanced Medical Optics Inc. of Santa Ana withdrew its month-old bid for rival Bausch & Lomb Inc. on Wednesday, saying it faced unrealistic demands to show that its shareholders supported the deal. In a sharply worded letter to Rochester, N.Y.-based Bausch & Lomb's board of directors, Advanced Medical Optics Chief Executive James V. Mazzo said, "if, in the future, you decide to run a process that is designed to deliver value to your shareholders, please let us know."
BUSINESS
August 4, 2007 | From Times Wire Services
Bausch & Lomb's board recommended that shareholders approve a proposed $3.67-billion takeover of the company by private equity firm Warburg Pincus after Advanced Medical Optics Inc. withdrew a higher offer. The stockholders will vote on the plan at a meeting Sept. 21, Rochester, N.Y.-based Bausch & Lomb said in a letter filed with the Securities and Exchange Commission. Advanced Medical withdrew its $4.3-billion bid for the contact lens maker Wednesday.
BUSINESS
March 26, 2012
Ista Pharmaceuticals Inc., the Irvine maker of eye medications that fought off a hostile takeover bid this year, agreed to be bought by Bausch & Lomb Inc. for $500 million. Bausch will pay $9.10 a share in cash for Ista, and the deal should close in the second quarter, the companies said Monday. The bid from the Rochester, N.Y., eye-care company, owned by Warburg Pincus, is 8.6% higher than Monday's closing price for Ista of $8.38 a share. Ista, which sells Istalol for intraocular pressure and Bromday for issues associated with cataract extraction, rebuffed a $327-million hostile bid by Valeant Pharmaceuticals International Inc., calling it "grossly inadequate.
BUSINESS
August 2, 2007 | Daniel Yi, Times Staff Writer
Eye-care products maker Advanced Medical Optics Inc. of Santa Ana withdrew its month-old bid for rival Bausch & Lomb Inc. on Wednesday, saying it faced unrealistic demands to show that its shareholders supported the deal. In a sharply worded letter to Rochester, N.Y.-based Bausch & Lomb's board of directors, Advanced Medical Optics Chief Executive James V. Mazzo said, "if, in the future, you decide to run a process that is designed to deliver value to your shareholders, please let us know."
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