Bausch & Lomb may not be as committed to the $3.6 billion Warburg Pincus acquisition deal as it first seemed yesterday. The company, which markets a number of therapies for eye ailments along with its popular contact lenses, says it is open to higher bids. Jilting Warburg would cost Bausch & Lomb $40 million. Investors quickly bid the price of Bausch & Lomb past Warburg's $65 a share offer in hopes that new buyers step up to the plate.
- here's the Wall Street Journal's report [1] (sub. req.)
Related story:
Here's the original bid piece Report [2]
Links:
[1] http://online.wsj.com/article/SB117931761531104796.html?mod=health_home_stories
[2] http://www.fiercebiotech.com/story/warburg-pincus-agrees-to-pay-4.5b-for-bausch-lomb/2007-05-16