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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
07/02/201519:19:22Statement of Changes in Beneficial Ownership (4)
07/02/201519:15:56Statement of Changes in Beneficial Ownership (4)
07/02/201519:12:25Statement of Changes in Beneficial Ownership (4)
07/02/201519:07:34Statement of Changes in Beneficial Ownership (4)
07/02/201518:14:34Statement of Changes in Beneficial Ownership (4)
06/30/201514:19:29Towers Watson: Lower Taxes Not Main Driver of Willis Deal
06/24/201516:33:16Statement of Changes in Beneficial Ownership (4)
06/24/201516:28:30Statement of Changes in Beneficial Ownership (4)
06/24/201516:21:55Statement of Changes in Beneficial Ownership (4)
06/24/201508:00:00Valeant Pharmaceuticals To Announce 2015 Second Quarter Results...
06/24/201508:00:00Valeant Pharmaceuticals To Announce 2015 Second Quarter Results...
06/23/201509:15:00Valeant and Progenics Announce the Submission of U.S. New Drug...
06/23/201509:15:00Valeant and Progenics Announce the Submission of U.S. New Drug...
06/19/201510:00:02Bill Ackman's Pershing Square is Betting Big on These 4 Companies
06/17/201508:02:35Allergan To Buy Double-Chin Treatment Maker Kythera For $2.1...
06/16/201516:10:37Current Report Filing (8-k)
06/16/201516:02:44Statement of Changes in Beneficial Ownership (4)
06/16/201515:50:30Initial Statement of Beneficial Ownership (3)
06/15/201508:49:35Actavis Changes Name to Allergan After Deal For Botox Maker
06/12/201519:24:30Statement of Changes in Beneficial Ownership (4)

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