Bausch & Lomb says it anticipates no change in day-to-day operations now that it will officially be acquired by affiliates with Warburg Pincus LLC., a global private equity firm.


Warburg Pincus likes our brand, our strategy and our management team, so dont expect any fundamental changes in direction, says B&L spokesman Michael L. McDougall. We remain acutely focused on providing our customers with innovative ophthalmic products, solutions and support on which theyve come to rely. Warburg Pincus wants to build on Bausch & Lombs leadership position in the ophthalmic industry and further bolster our relationships with industry professionals, such as optometrists.


On September 21, more than two-thirds of B&L shareholders voted to approve the merger, in which B&L shareholders will receive $65 a share in cash, a transaction valued at approximately $4.5 billion. B&L expects to close the transaction by late October.

B&L first announced on May 16 that it agreed to be acquired by Warburg Pincus. On July 5, Advanced Medical Optics confirmed that it proposed to acquire B&L for $75 a share. AMO later withdrew the offer, citing an inadequate amount of time to respond to B&Ls demands for proof of shareholder support.

Vol. No: 144:10Issue: 10/15/2007