B&L shareholders OK Warburg Pincus merger

Rochester, NY-Bausch & Lomb (B&L) shareholders have approved the proposed merger of the company with affiliates of Warburg Pincus LLC, according to the company.

"We look forward to completing the transaction promptly," said Ronald L. Zarrella, B&L chairman and chief executive officer.

The transaction is expected to close early in the fourth quarter. Each outstanding share of B&L common and Class B stock will be canceled and converted into the right to receive $65 in cash, without interest and minus any applicable withholding taxes.