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B&L/Warburg Pincus merger

This article was originally published in The Tan Sheet

Executive Summary

Bausch & Lomb shareholders voted to approve the proposed merger with affiliates of Warburg Pincus LLC at a meeting of shareholders Sept. 21, the firm announces. According to the merger agreement, at closing, each outstanding share of common and Class B stock of Bausch & Lomb will be cancelled and converted into the right to receive $65 in cash, without interest. Affiliates of Warburg Pincus are not required to consummate the deal until after a 20-day "marketing period" following the shareholder vote. Subject to customary closing conditions, the firms expect the transaction to close early in the third quarter. In July, Advanced Medical Optics restated an earlier acquisition offer for Bausch & Lomb of $75 per share (1"The Tan Sheet" July 30, 2007, In Brief)...

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