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In Brief: Sola/American Optical

This article was originally published in The Gray Sheet

Executive Summary

Sola/American Optical: Sola International will pay $107 mil. cash, and will assume "certain liabilities" to acquire the worldwide ophthalmic group of American Optical Corporation. The firms, which signed a letter of intent for the deal in March but did not specify terms ("The Gray Sheet" March 18, I&W-16), announced a definitive pact May 6. Sola says it will fund the purchase with "cash borrowings" that "may be refinanced in part with additional equity issuances"...

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