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AMO Eyes Potential Bid To Nab Bausch & Lomb Before It Goes Private

This article was originally published in The Gray Sheet

Executive Summary

Ophthalmic device firm Advanced Medical Optics is considering a bid for competitor Bausch & Lomb that would trump B&L's existing buyout deal with private equity firm Warburg Pincus

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Bausch & Lomb bidding escalates

Advanced Medical Optics offers to buy rival ophthalmic device firm Bausch & Lomb for $75 per share in cash and stock - or $4.3 billion - to trump private equity firm Warburg Pincus' $65-per-share cash offer announced in May. B&L said July 5 it will consider AMO's proposal, which is contingent in part on additional due diligence. AMO indicated it was considering a bid shortly after the original Warburg agreement (1"The Gray Sheet" May 28, 2007, p. 21). However, AMO management's focus on a subsequent recall of its Complete MoisturePlus contact lens solution had threatened to derail the effort (2"The Gray Sheet" June 4, 2007, p. 10)...

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