Advisory Firms Recommend Bausch Shareholders Approve AMO Sale

Eye-care products maker Bausch & Lomb said Friday that four proxy advisory firms have recommended that shareholders approve the $3.67 billion sale of the company to private equity firm Warburg Pincus. In August, Bausch & Lomb (up $0.11 to $63.31, Charts) asked shareholders to approve the sale. A special shareholder meeting is scheduled for Sept. 21 to vote on the matter. Video More video The latest in business news with the CNN.com business bulletin. Play video In a statement, the company said Institutional Shareholder Services, Egan-Jones Proxy Services, Glass Lewis, and Proxy Governance recommended the sale. In May, Bausch & Lomb entered into an agreement with Warburg Pincus to sell the company at $65 per share in cash, or about $3.67 billion, plus $830 million in assumed debt. In July, Advanced Medical Optics (Charts) made an unsolicited counter bid for $4.2 billion, or $45 per share in cash and $30 in stock, but withdrew the offer last month.

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