NEW YORK (AP) — Canadian drugmaker Valeant Pharmaceuticals International Inc. said Monday it will sell $1.75 billion in stock to help fund its acquisition of Bausch + Lomb.

Valeant did not say how many shares it plans to sell. The company said it plans to raise $1.75 billion before discounts, expenses, and other items. It will use the proceeds to help fund its $4.5 billion purchase of Bausch + Lomb, to cover fees and expenses related to the deal, and to repay or retire Bausch + Lomb's debt.

The underwriters of the offering will have the chance to buy additional shares to cover any overallotments. That could increase the number of shares sold by up to 15 percent, or about $260 million.

Valeant agreed to buy Bausch + Lomb in May in a major expansion of its ophthalmology business. It will pay $4.5 billion for the company and will spend another $4.2 billion to repay Bausch + Lomb's debt.

U. S.-traded shares of Valeant, which is based in Laval, Quebec, rose 62 cents to $84.82 Monday and lost 87 cents to $83.95 in aftermarket dealings.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel