Accounting woes sends Bausch & Lomb private
Acquired by Warburg Pincus for £1.85bn
Following product recalls and accounting woes, eye-care product
maker Bausch & Lomb has agreed to be
acquired by the private equity firm
Warburg Pincus for £1.85bn in cash.
The 154-year-old company said the private equity group had agreed to pay $65
per share.
This, the company said, was a 26% premium to the average price of the stock
over the 30-day period when rumours began circulating about a possible buyout.
The deal will see Warburg Pincus take on about $830m (£415m) of debt.
Further reading:
Heer launches private equity funds
CBI warns against private equity clampdown
Managing finances: private equity investment