Bausch Health Companies Inc. (NYSE: BHC) announced an increase in shareholding by its chairperson of the board, John A. Paulson, and certain affiliates and managed funds. This increase reflects the acquisition of the net long position of 34,721,118 common shares previously held by Mr. Carl C. Icahn and his affiliates. Paulson Capital Inc. and certain affiliates and managed funds now beneficially own approximately 19.13% of the company’s outstanding common shares.
As a result of this change, the director appointment and nomination agreement between the company and Icahn Group terminated, leading to the resignation of Brett M. Icahn and Steven D. Miller from the board of directors.
John A. Paulson, chairperson of the Bausch Health board, expressed confidence in the company's efforts to maximize shareholder value and excitement about the underlying business prospects in both Bausch Health and its subsidiary, Bausch + Lomb Corporation. He also extended thanks to Brett and Steven for their dedication and valuable contributions to the company.
Bausch Health Companies Inc. is a global, diversified pharmaceutical company with a controlling interest in Bausch + Lomb Corporation. The company develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, dentistry, aesthetics, international pharmaceuticals, and eye health, with the ambition of becoming a globally integrated healthcare company trusted and valued by patients, healthcare professionals, employees, and investors. Following these announcements, the company's shares moved 11.05%, and are now trading at a price of $8.34. If you want to know more, read the company's complete 8-K report here.
