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B&L/Woehlk

This article was originally published in The Gray Sheet

Executive Summary

Bausch & Lomb's $26.2 mil. cash acquisition of German contact lens maker Woehlk Contact Lens GmbH from Carl Zeiss will "significantly expand" its distribution network in Germany and give it the "number two position" in the German market, B&L says. The deal, which is slated to close in mid-October, is expected have a neutral impact on earnings in 2000 and be "slightly accretive" in 2001. Separately, B&L expects to report Oct. 12 details of a restructuring to include job cuts and associated cost savings. The Rochester, N.Y. firm will "integrate management of all product lines within a streamlined organizational structure" to more fully realize operational synergies, according to a Sept. 28 release
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