GO
Loading...

CNBC's Faber: Bausch & Lomb Likely to Stay With Warburg Offer

CNBC.com
Monday, 23 Jul 2007 | 1:48 PM ET

Bausch & Lomb is likely to stick to its agreement to be acquired by Warburg Pincus for $3.67 billion, or $65 per share in cash, reported CNBC's David Faber.

A Bausch & Lomb special committee, comprised of independent directors of the optical-care company, is meeting Monday to review Warburg's acquisition -- and a competing, unsolicited bid from Advanced Medical Optics for $75 per share.

The Advanced Medical Optics offer would break down into $45 per share in cash and $30 in Advanced Medical Optics stock.

Who Will Win BOL?
An update on Bausch & Lomb, with CNBC's David Faber

"Based on communications between the two companies, it seems as though they [Bausch & Lomb] will reverse themselves" and fall back on the Warburg Pincus offer, Faber said.

"According to people familiar with the situation, they don't believe that AMO's deal is reasonably likely to be consummated -- because of AMO shareholders and the potential that they will vote against it," Faber reported.

The entire Bausch & Lomb board is slated to meet Tuesday to consider the two offers, and whether to continue talks with Advanced Medical Optics, whose offer was unsolicited.

Bausch & Lomb shares lost $1.31, or 1.94%, at $66.19 in Monday early-afternoon trading on the New York Stock Exchange.

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video