MD+DI Online is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeRegulatory & QualityAMO Withdraws Bid for Bausch & Lomb

AMO Withdraws Bid for Bausch & Lomb

Advanced Medical Optics has decided to withdraw its bid for fellow vision-device firm Bausch & Lomb, the Los Angeles Times reports. This clears the way for Bausch & Lomb to be sold to a subsidiary of private equity firm Warburg Pincus. AMO's bid was higher by about $10 per share, but B&L's board was skeptical that AMO shareholders would approve it. AMO's largest shareholder, ValueAct Capital, came out against it.

The B&L board asked AMO for proof that its shareholders would back the bid. AMO decided to withdraw from the bidding instead. But not before a parting shot. "If, in the future, you decide to run a process that is designed to deliver value to your shareholders, please let us know," AMO CEO James Mazzo wrote to the B&L board. Ouch!

Hide comments
account-default-image
user not logged in

More information about text formats

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
Related
IMEast.png
Medical Design & Manufacturing (MD&M) East 2023
quality control failure concept illustrated by a rejection stamp
Getinge Gets Another CE Mark Suspension
Mar 29, 2023
operating room nurse uses a digital tablet to operate medical devices in the OR; medical device cybersecurity concept
Ready or Not, Here Comes Medical Device Cybersecurity Legislation
Mar 28, 2023
2009 was a year of turmoil for FDA's CDRH (Center for Devices and Regulation)
The Year Turmoil Erupted at CDRH
Mar 28, 2023