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Bausch + Lomb To Acquire ISTA In Cash Deal

DOW JONES NEWSWIRES Bausch + Lomb Monday agreed to acquire ISTA Pharmaceuticals Inc. (ISTA), swooping in with a higher offer for the eye-care company deal less than two months after a rival suitor withdrew its bid. ISTA shares jumped 7.8% to $9.03 after hours, slightly below Bausch + Lomb's $9.10 per-share offer price, which offers more than $380 million for Ista's outstanding shares. That values the company at a roughly 134% premium over its close Dec. 15, the day before ISTA confirmed its was weighing its strategic options. The latest offer comes after Valeant Pharmaceuticals International Inc. (VRX, VRX.T) withdrew a sweetened bid for the eye-care company. Valeant in January raised its offer for ISTA to $7.50 a share, with a target of $8.50 subject to due diligence. ISTA at the time said it would continue to review Valeant's offer, valued at up to $353 million, but said it would remain in talks with a number of parties that expressed interest in a strategic transaction. Basch + Lomb's deal, expected to close in the second quarter, won unanimous approval from both companies' boards. Basch + Lomb said the deal benefits from the two companies' complementary development pipelines. The companies plan to continue operating independently until the deal closes. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Valeant Pharma (VRX)
DateTimeHeadline
05/21/201516:48:48Initial Statement of Beneficial Ownership (3)
05/19/201517:00:00Valeant Pharmaceuticals Announces 2015 Annual Meeting Results
05/19/201517:00:00Valeant Pharmaceuticals Announces 2015 Annual Meeting Results
05/19/201516:59:40Current Report Filing (8-k)
05/18/201512:18:57Endo to Buy Generics Maker Par Pharma for $8 Billion -- 4th Update
05/18/201511:05:26Endo to Buy Generics Maker Par Pharma for $8 Billion -- 3rd Update
05/18/201501:00:00Pharming and Clinigen Group Initiate "HAEi GAP" Global Access...
05/15/201522:41:08
05/15/201519:55:34Third Point Sells Entire $1 Billion Stake in Alibaba
05/15/201519:42:17Hedge Fund Dumps Alibaba
05/12/201516:05:00Valeant Pharmaceuticals To Webcast 2015 Annual Meeting Of Shareholders
05/12/201516:05:00Valeant Pharmaceuticals To Webcast 2015 Annual Meeting Of Shareholders
05/10/201514:18:02Meet the Company That May Become Healthcare's Version of Berkshire...
05/10/201513:03:02Investors Just Doubled Their Money on This Stock
05/06/201517:53:12Statement of Changes in Beneficial Ownership (4)
05/05/201516:58:55Statement of Changes in Beneficial Ownership (4)
05/04/201519:26:00From Einhorn to Ackman, Live From the Ira Sohn Conference...
04/30/201515:43:06Quarterly Report (10-q)
04/30/201512:32:00Pharming Reports on Annual General Meeting of Shareholders
04/30/201511:44:41Deutsche Bank Raises Valeant Pharmaceuticals Intl Price Target...

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