AMO considers bid for B&L

AMO has confirmed that it is interested in buying Bausch & Lomb and is willing to pay more than $3.67bn which is the current offer from private equity firm Warburg Pincus.

As reported in Optician, (May 18), B&L agreed to be acquired by Warburg Pincus, with the total acquisition price, including debt provisions, being valued at around $4.5bn. According to the agreement, should B&L agree to accept a higher offer within 50 calendar days it will pay Warburg Pincus a $40m break-up fee.

Earlier this week, AMO confirmed it was interested in entering B&L's 'go shop' process. In a statement to the city, the company said: 'We believe it is only logical to explore this opportunity given the highly complementary nature of our two businesses. Consideration of this potential transaction is consistent with our existing strategy to provide a full range of products that address vision care needs of people of all ages.