This Week
  • The interior of the Golisano Children's Hospital is starting to take shape.

  • Challenges mount for area companies that do business in Russia.

  • Karen Pudetti left an accounting career to start Luxe Salon, Spa and Laser Center.

  • Money managers do not feel threatened by competition from banks.

  • Lawyer John Moragne learned from mentors to set his career's direction.

  • The Business Person of the Year finalists are profiled.

Valeant Pharmaceuticals issues shares for B&L deal

Rochester Business Journal
June 24, 2013

Valeant Pharmaceuticals International Inc. said Monday it has issued $2.3 billion worth of new shares. Net proceeds from the sale of the new shares are to help pay for its acquisition of Bausch & Lomb Inc., Valeant said in regulatory filings. 

The stock issue includes 23.5 million shares priced at $85 each, and 3.5 million shares at the same price for the deal’s underwriter, Goldman Sachs & Co.

To complete the eye-care company acquisition, Montreal-based Valeant plans to pay Bausch & Lomb shareholders some $4.5 billion in cash and assume roughly $4.2 billion in Bausch & Lomb debt. The Canadian firm previously announced plans to borrow $7.2 billion in term loans and through bond offerings to finance the deal.

“This transaction will add to the company a leading global eye health company with an iconic brand, another strong specialty platform, an attractive late stage pipeline and an expanded footprint across high-growth emerging markets (such as China, Brazil, the Middle East, South Korea, Russia, Poland and Turkey), which represented approximately 25 percent of B&L’s 2012 net sales,” Valeant said in a June 10 Securities and Exchange Commission filing describing the new share issue.
 
(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google