AMO tables offer for B&L

AMO has offered to purchase Bausch & Lomb for $75 a share, of which $45 is in cash and $30 in AMO stock.

This compares with a $65 a share offer made by private equity firm Warburg Pincus in May, a takeover agreement that allowed B&L to solicit other bids for 50 days.

AMO said last week that a successful offer would help expand its global market dominance. 'The AMO and B&L businesses complement each other and together would provide increased scale, scope and the enhanced ability to generate productivity and efficiency improvements.

'Through a focus on integrating the best of both businesses, as well as the sale of some non-core assets, our goal is to create a stronger, more competitive combined company with a platform for sustained, profitable growth,' said Jim Mazzo, president and chief executive officer of AMO.