Bausch & Lomb deal refuses to die
From Times Wire Services
Advanced Medical Optics Inc. proposed two ways to demonstrate that its shareholders would support an offer to buy competing eye-care product maker Bausch & Lomb Inc. for $4.3 billion, after the second-largest investor balked.
Advanced Medical is prepared to discuss the proposal with its main shareholders contingent on Bausch & Lomb’s waiving a confidentiality deal, according to a letter to a committee of Bausch & Lomb’s board.
The letter was a response to one earlier this week from Rochester, N.Y.-based Bausch & Lomb asking for evidence that Advanced Medical’s stockholders would support the takeover.
