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Visx Examining Ways to Boost Slumping Stock Price

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Bloomberg News

Visx Inc., the No. 1 maker of excimer lasers, said it is studying ways to boost the company’s stock price, including a possible sale or merger. Visx hired Goldman, Sachs & Co. as financial advisor earlier this year, the company said in a release distributed by Business Wire. Chief Executive Mark Logan sent a letter to shareholders last week saying other options include an acquisition or alliance. The company’s shares have plunged 71% this year, cutting its market value to about $897 million. Financier Carl Icahn, who bought a 9.95% stake in October for $141.9 million, has urged that Santa Clara, Calif.-based Visx put itself up for sale to compete with better-capitalized rivals. Icahn said last week that he would nominate his own slate of directors to press his effort to sell the company. Visx shares fell $1.13 to close Friday at $14.75 on the New York Stock Exchange.

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