Bausch & Lomb Investors OK Takeover

The $3.67 billion buyout deal with Warburg Pincus is expected to close in the fourth quarter.
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Eye health company

Bausch & Lomb

(BOL)

said Friday that its shareholders officially approved a buyout deal with the

private-equity firm Warburg Pincus.

Bausch said more than two-thirds of the total shares outstanding voted in favor of the $3.67 billion transaction, which is expected to close early in the fourth quarter, at which time each outstanding share of common and Class B stock will be converted into the right to receive $65 in cash. Affiliates of Warburg Pincus aren't required to consummate the merger until after a 20-day marketing period expires following the shareholder vote.

Shares of Bausch & Lomb were trading up a slight 4 cents, or 0.1%, at $63.67.