Bausch Health Companies Inc. (NYSE: BHC) has recently announced significant changes in its shareholder structure and board of directors. Paulson Capital Inc. and certain affiliates and managed funds have increased their ownership of the company's common shares, acquiring the net long position of 34,721,118 common shares previously held by Mr. Carl C. Icahn and his affiliates. This reflects an approximate 19.13% ownership of the company's outstanding common shares as of the announcement date.
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, the chairperson of the Bausch Health board, expressed confidence in the company's value and efforts to maximize shareholder value. He also expressed enthusiasm about the business prospects of both Bausch Health and its subsidiary, Bausch + Lomb Corporation.
Bausch Health Companies Inc. is a global, diversified pharmaceutical company with a focus on developing, manufacturing, and marketing products primarily in various healthcare segments, including gastroenterology, hepatology, neurology, dermatology, dentistry, aesthetics, international pharmaceuticals, and eye health, through its controlling interest in Bausch + Lomb Corporation. The market has reacted to these announcements by moving the company's shares 11.05% to a price of $8.34. Check out the company's full 8-K submission here.
