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news.Bausch & Lomb’s shareholders have voted in favor of its proposed merger with affiliates of private equity investor group Warburg Pincus.
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More than two-thirds of the total shares outstanding and entitled to vote at the shareholders' meeting were voted in favor of the transaction.
In accordance with the terms of the merger agreement, at closing each outstanding share of common and class B stock of Bausch & Lomb will be cancelled and converted into the right to receive $65 in cash, without interest, less any applicable withholding taxes. The transaction, which is subject to customary closing conditions, is expected to close early in the Q4.
Ronald Zarrella, chairman and CEO of Bausch & Lomb, commented: “We are pleased with the outcome vote. On behalf of the board and management team, I want to thank our shareholders, customers and dedicated employees for their support throughout this process. We look forward to promptly completing the transaction.”