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Bausch & Lomb Buyout CompletedBausch & Lomb Buyout Completed
Private equity firm Warburg Pincus has completed its $3.7 billion buyout of ophthalmics giant Bausch & Lomb, reports the Associated Press. Eye-care rival Advanced Medical Optics had made a $4.2 billion offer, but pulled it in August after accusing Bausch & Lomb of putting up insurmountable hurdles to approval.Like Boston Scientific with Guidant, however, Warburg Pincus acquires problems as well as prestige with the Bausch & Lomb deal.
October 29, 2007
1 Min Read
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B&L is still feeling the fallout from a May 2006 contact-lens-solution recall, and it has been named as a defendant in about 550 product-liability lawsuits. At least the firm won't be pressured by Wall Street analysts and shareholders as it tries to work through the problems.
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