AMO/Bausch & Lomb
This article was originally published in The Gray Sheet
Executive Summary
Bausch & Lomb tells Advanced Medical Optics July 24 that AMO's June 29 offer to buy B&L for $75 per share in cash and stock - about $4.3 billion - "would not be likely to result in a superior proposal" versus Warburg Pincus' $65-per-share cash offer announced in May (1"The Gray Sheet" July 9, 2007, In Brief). In response, AMO reaffirmed its $75 per share offer, which it believes "fully and fairly values" B&L, and offered to pay an increased fee if AMO shareholders reject the deal. AMO also provided additional assurances that its shareholders would support the purchase..
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