Corporate cash at record levels and private equity

[Anonymous]

With corporate cash at record levels the balance of takeover targets (mergers, acquisitions) between public and private companies has changed dramatically. Buying a public company is much more favorable than buying a private company like B & L.

If you buy a public company you get all of the extra cash that companies have been building up lately. If you buy a private company you get the company minus the cash (because WP takes it all before the sale). B+L therefore can not be sold because the public companies are much better buys.

IPO is an option but there just is not a good enough story (expectations for future growth) for this company.

The prospects for this company is simply that it will be owned by WP for the next 10 years.

 

[Anonymous]

WP can increase cash by reducing head count. Same sales reduced cost equals increased cash for WP. Probably WP last move prior to the sale of the company.

 

[Anonymous]

When you sell a house you take the furniture, pots and pans, car and lawnmower with you. When WP sells they are also interested in taking the sinks, electrical wires, trees, carpets, curtains, and the bricks from the fireplace.

 

[Anonymous]

Reducing Headcount - Organizational Announcement

From: Saunders, Brent L
Sent: Tue Dec 13 11:45:10 2011
Subject: Surgical Organization Update

Dear Bausch + Lomb Colleagues,

Today I want to tell you about an important change we are making in our organization.

Robert Grant has decided to leave Bausch + Lomb to pursue other opportunities. We appreciate Robert’s contributions to our company, and wish him well for the future. He asked me to extend his best wishes to the Surgical team and all of his Bausch + Lomb colleagues, and convey his strong belief that together we have a very bright future.

Because we place such importance on our Surgical business and the talented people that are driving its success, I will assume responsibility for our Surgical business for the foreseeable future. I will spend the next few months listening to and learning from our Surgical colleagues around the world to see how we can further accelerate our momentum. That work begins today when I head out to Aliso Viejo, California for my first meetings with the team.