Deal is now Official

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Anonymous

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http://www.stockhouse.com/news/usreleasesdetail.aspx?n=8868197

Final Number: $8.7B

"Bausch + Lomb will retain its name and become a division of Valeant. Valeant's existing ophthalmology businesses will be integrated into the Bausch + Lomb division, creating a global eye health platform with estimated pro forma 2013 net revenue of more than $3.5 billion."

"Following the closing, Mr. Saunders will join Valeant in an advisory role to help ensure a seamless transition and integration and Fred Hassan, Chairman of Bausch + Lomb's Board of Directors, will join Valeant's Board of Directors. In addition, Dan Wechsler, Executive Vice President and President of Bausch + Lomb's Global Pharmaceuticals, will join Valeant as Executive Vice President and Company Group Chairman, Ophthalmology and Eye Health. Bausch + Lomb's Chief Medical Officer Calvin W. Roberts, M.D. will also join Valeant as its Chief Medical Officer, Ophthalmology and Eye Health. We also anticipate additional members of the senior management team to join Valeant."

"The transaction, which is expected to close in the third quarter, is subject to customary closing conditions and regulatory approvals."

Enjoy your BBQ today - we will start afresh tomorrow. Good luck everybody!

Any ideas about what our severance looks like????? Time to dust the employee handbook!
 






Medicis employees got one week, ONE week! for every year with the company....the CEO of Valeant is not valiant he's a scumbag doesn't give a shit about anyone. They got envelopes, white you stayed black you were asked to leave. They fired 70% of the medicis staff...Say goodbye to our awesome 401k, benefits, awesome vacation time it's all going to be taken away. Salaries will be revamped, 2 weeks vacation....
 






Anonymous said:
Medicis employees got one week, ONE week! for every year with the company....the CEO of Valeant is not valiant he's a scumbag doesn't give a shit about anyone. They got envelopes, white you stayed black you were asked to leave. They fired 70% of the medicis staff...Say goodbye to our awesome 401k, benefits, awesome vacation time it's all going to be taken away. Salaries will be revamped, 2 weeks vacation....
Click to expand...

Where Fred Hassan is, you are screwed....I.e. Schering, Wyeth, now B & L. Update your resumes, when the deal is done, the cuts will come very fast. If you are in a duplicate position, you will lose.
 












Anonymous said:
This is what happens when a foreign company buys you; there should be laws against this kind of transaction; how do like 'globalization' now?
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this would happen if an American company bought you, truth is that the large big wigs will get saved or get the golden parachute and everyone else needs to get their resumes in order. if you stay till the end you'll probably get a really nice severance package, 2 weeks per every year served, insurance paid, sales people will get to keep their car for about a month.
 






Anonymous said:
This is what happens when a foreign company buys you; there should be laws against this kind of transaction; how do like 'globalization' now?
Click to expand...

Don't be silly. Valeant was a US company until it merged with Biovail. It only merged with Biovail for the corporate tax structure Biovail had. Valeant is run from the US by Americans and Biovails management was turfed and the headquarters moved (on paper only) to Quebec.

The money trail all goes through Biovails old structure but make no mistake, Valeant is American as apple pie.

The CEO claims to be Canadian and may hold a Canadian passport, but his family moved to the US when he was a teen and the Duke educated twit grew up in the US and has been there ever since.
 
























Didn't see the Valeant sale coming. According to the article, B+L was Valeant's "second" pick since their first pick fell apart. Make no mistake about it- whether Valeant is foreign or domestic, we're all in for a rocky road. Your years of service at B+L don't mean anything now and Valeant only cares about making money since they are taking on over $4B of B+L debt. That's how B+L stayed afloat just long enough to get saved by a sucker company. They put everything on the credit card and left somebody else to pay the bill. Well done, Freddie and crew.
 






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