Advanced Medical Optics Inc. has offered about $4.1 billion in cash and stock for rival eye care company Bausch & Lomb Inc., according to a Thursday report on the Wall Street Journal’s Web site.
Santa Ana-based Advanced Medical’s offer competes with an existing $3.67 billion bid for Rochester, N.Y.-based Bausch from Warburg Pincus LLC, a private equity firm.
In late May, Advanced Medical had expressed interest in Bausch and said it would be willing to top any existing bids. The company remained mum about its interest during a series of recent conference calls dealing with its voluntary recall of its Complete MoisturePlus contact lens solution.
Bausch had 50 calendar days from May 16 as part of its go-private deal with Warburg Pincus to solicit alternate bids, which it had made clear it would do.
Shares of Bausch & Lomb were up 5% and shares of Advanced Medical were up 1% when the New York Stock Exchange halted trading in both companies.
