(Reuters) - PHILADELPHIA, July 26 - Sandell Asset Management Corp. said on Thursday it would vote against Warburg Pincus' $3.67 billion takeover bid for Bausch & Lomb Inc. and said the eye-care company's concerns about a rival $4.23 billion offer from Advanced Medical Optics Inc could be resolved.
Sandell said it believes Advanced Medical's $75 per share cash and stock offer is superior to the $65 per share cash offer by Warburg Pincus. The investment fund said Bausch & Lomb was unnecessarily dismissing the Advanced Medical proposal in favor of a transaction that significantly undervalues the company.
Read more at Reuters.com Mergers News
Sandell said it believes Advanced Medical's $75 per share cash and stock offer is superior to the $65 per share cash offer by Warburg Pincus. The investment fund said Bausch & Lomb was unnecessarily dismissing the Advanced Medical proposal in favor of a transaction that significantly undervalues the company.
Read more at Reuters.com Mergers News
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