Friday, May 25, 2007

Bausch & Lomb doesn't see layoffs from going-private deal

By Yogita Patel (Market Watch)

Bausch & Lomb Inc. (BOL : Bausch & Lomb Incorporated) said Thursday that it doesn't anticipate layoffs from its $4.5 billion acquisition by private-equity firm Warburg Pincus LLC.
In a communication to employees that was disclosed in a Securities and Exchange Commission filing, the Rochester, N.Y., eye-care company said it doesn't expect the transaction to affect its day-to-day operations, including its business sites worldwide.
Warburg Pinus, of New York, agreed earlier this month to buy Bausch & Lomb for $65 a share in cash.
Shares of Bausch & Lomb closed Thursday at $70.21.

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