Bausch & Lomb Inc. said Tuesday it remains in talks to be bought by Santa Ana-based Advanced Medical Optics Inc., though a rival bid from Warburg Pincus LLC received antitrust clearance from regulators.
Advanced Medical offered about $4.3 billion in cash and stock for Bausch & Lomb last week, on the last day of a 50-day period Bausch & Lomb had to consider rival bids besides the Warburg Pincus offer.
Warburg Pincus’ cash bid to take Bausch & Lomb private is valued at $3.7 billion. The deal also includes a $40 million breakup fee.
On the antitrust issue, the Federal Trade Commission completed reviewing the Warburg Pincus offer without taking any action to block it.
Rochester, N.Y.-based Bausch & Lomb also filed a preliminary proxy with the Securities and Exchange Commission for a special shareholders’ meeting to consider the Warburg Pincus offer.
