Visx
This article was originally published in The Gray Sheet
Executive Summary
Financier Carl Icahn proposes to nominate six directors to the Visx board at the firm's annual shareholder meeting in late May, according to a Dec. 5 13D filing with the Securities and Exchange Commission. Icahn is seeking to convince the ophthalmic excimer laser manufacturer to merge operations with a larger ophthalmic surgical or pharmaceutical company to enhance shareholder value. Visx adopted a poison pill shareholder rights plan earlier this year to thwart a possible hostile takeover bid that takes effect if an individual or company acquires more than 10% of Visx (1"The Gray Sheet" Aug. 7, 2000, p. 19). Icahn has a 9.95% stake
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Visx
Shareholder rights plan adopted July 28 by the ophthalmic laser manufacturer is aimed at financier Carl Icahn's bid to acquire an equity stake of more than $15 mil. but less than 15% of the company through Icahn Associates. Under the plan, shareholders of record Aug. 7 are entitled to buy one share of Visx stock for $150 if an individual or company acquires more than 10% of Visx. The rights expire July 28, 2010. The company's stock rose 14.5% to 25-3/16 the day following the announcement, and closed the week of Aug. 4 at $25-1/2
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