Fezz & Johns to Buy B&L

[Johns]

Bausch & Lomb soars on deal news

Eye-care firm to be bought by private equity shop FezzJohns for about $3.7B; shares jump above offer price.

May 16 2007: 10:31 AM EDT


Optiland (Smallhatpress) -- Bausch & Lomb Inc., still dealing with a worldwide recall of products that reportedly cause eye infections and hit the eye-care company's financial results, said Wednesday it agreed to be acquired by private equity firm Fezz Johns for nearly $3.7 billion.
Under the deal, FezzJohns will acquire all of the outstanding shares of Bausch & Lomb common stock for $65 a share in cash. It will also assume about $830 million in debt, and look to take over any brewery in the area.

Shares of Bausch & Lomb (Charts) jumped about 9 percent above $65 in early trading, a sign that investors are confident the new infrastructure will be comprised of mostly Optiboard members, believed to be the smartest minds in the optical world.
The offer is only a 5.7 percent premium to where Bausch & Lomb shares closed on Tuesday, but its shares have been on rising for weeks on rumors it would be a target of a leveraged buyout.
The deal is not a surprise given the stock's action, Optiboard analyst DrK said. "This looks like a pretty fair deal," he said.
The share price's rise above $67 at the open - above the $65-a-share announced deal price - suggests speculation of a higher bid, DrK. said.
"If I were a shareholder here, I would not be expecting much upside from the $67."
FezzJohns has offered to pay nearly 28 times estimated 2007 earnings per share for the company, and 9.5 times estimated 2007 earnings before interest, taxes, depreciation and amortization, based on data from Chris Ryser Estimates.
By going private, Bausch will be able to address its issues away from the investor spotlight, Ryser said. Those issues include dealing with product liability lawsuits and getting their accounting in order as the company has not yet become current in its SEC filings, DrK. said.
The company made a worldwide recall of its popular contact lens solution last year and was still recalling some product this year.
The deal includes the right for Bausch & Lomb to solicit superior offers during the next 50 days. If a better deal is reached during that time, it will pay a $40 million break-up fee to FezzJohns.

[Johns]

It's going to be a pretty big task, and one of us might even be forced to give up our day job, but with the right staff, it should be slam dunk.

Any ideas on staff?


Rinselberg - Head of IT
Drk - Analyst
Mr Mitchell- Head of Public Relations
Fezz- Director of Brewery relations/solutions R&D
Johns-Break room supervisor/Janitorial Svcs.

??...

[HarryChiling]

HarryChiling - Parking Lot Attendant.

[Chris Ryser]

Mr Mitchell- Head of Public Relations
??...

Not a good choice................. he takes off in his WMB when the public relations turn a bit sour.

[Johns]

Not a good choice................. he takes off in his WMB when the public relations turn a bit sour.

I know; that was just to see if you were paying attention.

A real choice might be Jo, or Judy Canty, or Snitgirl. We need a softer approach if we're going to bring back the disenfranchised.

[HarryChiling]

I vote Snitgirl.

[drk]

LMAO.:cheers:

[For-Life]

only a matter of time until OB takes over the World

[CME4SPECS]

only a matter of time until OB takes over the World

The New EVIL Empire

[Jana Lewis]

Hey! Whadda' bout ME??

I wanna position! ;)

[Jacqui]

I need a job too !!! :) :) :)

[Johns]

We can't hire you if we don't know what your good at!

List your qualifications and what position you want. (Sorry "sitting" and "laying" are already taken.)

We're not going to review any job applications. B&L tried that and it doesn't work.

What we're going to do is "first come, first served" and you get the spot! If you're good, you stay, if not, we send you down the giant beer slide, through the plant, and out the back door!

Pick a winner!:cheers: :cheers:

[Snitgirl]

I vote Snitgirl.

Thanks Bud...

Head of Public Relations :idea: = I get to wish everyone a happy birthday, whoot!:cheers:

[Johns]

We still need a Human Resources director, but be forwarned: If you pick VSP for a third party plan...no, on second thought, if you pick ANY third party plan, get ready to ride the slide.

The only third party we'll have is after the second, and before the fourth!:cheers: :cheers: :cheers: :cheers:

[DragonLensmanWV]

We can't hire you if we don't know what your good at!

List your qualifications and what position you want. (Sorry "sitting" and "laying" are already taken.)

We're not going to review any job applications. B&L tried that and it doesn't work.

What we're going to do is "first come, first served" and you get the spot! If you're good, you stay, if not, we send you down the giant beer slide, through the plant, and out the back door!

Pick a winner!:cheers: :cheers:

You could give me the job of Chief Guy Looking Busy But Actually Not.

Just don't send me down that beer slide telling me, "You'll dispense your eye out, kid."

[HarryChiling]

What we're going to do is "first come, first served" and you get the spot! If you're good, you stay, if not, we send you down the giant beer slide, through the plant, and out the back door!

Hey, why do the lame ducks get to go down the beer slide, what aboput us hard working parking attendants. You know the cars don't park themselves. Never mind I am going straight to Fezz with my complaint.

[Optowoman]

I'll be the beer slide tester. Will test daily to ensure proper flow.

Optowoman

[Fezz]

You could give me the job of Chief Guy Looking Busy But Actually Not.

I like your attitude, Son. Your in.


Sorry for getting in late on this. My esteemed colleague has kept everyone up to date.

I was busy out back, pruning the money tree, and lost track of time.

I will be leaving early to test out the Beer Slide. I wouldn't want any injuries to hamper our new venture!;)

[HarryChiling]

I'll be the beer slide tester. Will test daily to ensure proper flow.

NOOOOOOOOOOOOOOOO.............. You guessed my dream job before I even knew it existed.:D

[Fezz]

Hey, why do the lame ducks get to go down the beer slide, what aboput us hard working parking attendants. You know the cars don't park themselves. Never mind I am going straight to Fezz with my complaint.

Harry,

You know the door to my brewery, er...ah..I mean office is always open.

But we may have to appoint a "Head of Complaints" department.

Any takers, I mean complainers?


:cheers: :cheers: :cheers: :cheers: :cheers:

[OPTIDONN]

I wanna be Hug Distributor...FREE HUGS HERE!!:p

[Fezz]

I will be contacting DocInChina.

I want to appoint him "Head of Foriegn Affairs and International Relations".


This is more of a "prestige" title, but I think he is the right one for the job.

[ziggy]

I wanna be Hug Distributor...FREE HUGS HERE!!:p

Donn is always trying to touch somebody,,anybody:finger:

[Johns]

Hey, why do the lame ducks get to go down the beer slide, what aboput us hard working parking attendants. You know the cars don't park themselves. Never mind I am going straight to Fezz with my complaint.

Dude! The lame ducks go down the slide (that's their severance) into the parking lot. What you do with them out there is up to you.

The good workers, the ones that show the true Optiboard spirit, will use the beer slide that goes into the new CL solution pool. We're going to call it BrewNue.

BrewNue (patent pending) will be the first multipurpose (and we mean "multi") CL solution that will see the world a whole new way. Forget to clean your CLs? No problem, just down a bottle of BreNue and you won't even notice.

Fez, who is busy in the R&D dept. as we speak, is so confident that this will be a success, that he's producing it in olympic sized swimming pools. The FezzJohn Bikini team has tested it and has given it the stamp of approval.

So my friend, don't worry about the changes. Good things are around the corner...

:cheers: :cheers:

[ziggy]

We can't hire you if we don't know what your good at!

List your qualifications and what position you want.

I know talent! I want the job that reviews "talent". If I get the job, please send video of your special talent to watcher_105@hotmail.com , I will forward said videos to the proper department for consideration.