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Advanced Medical Optics Inc. <EYE.N> plans to make a takeover bid for Bausch & Lomb Inc. <BOL.N> in a move to wrest the eye-care company away from its existing pact to be acquired by a private equity firm, according to a report on Thursday by cable news channel CNBC. REUTERS/David Gray.

Advanced Medical Optics Inc. <EYE.N> plans to make a takeover bid for Bausch & Lomb Inc. <BOL.N> in a move to wrest the eye-care company away from its existing pact to be acquired by a private equity firm, according to a report on Thursday by cable news channel CNBC.

Credit: Reuters/David Gray.

PHILADELPHIA | Thu May 24, 2007 9:53am EDT

PHILADELPHIA (Reuters) - Advanced Medical Optics Inc. EYE.N on Thursday confirmed it was interested in exploring a potential acquisition of Bausch & Lomb Inc. BOL.N and offering a superior price than the eye-care company's deal to be bought by a private equity firm for $3.67 billion.

"We believe that the current transaction with Warburg Pincus undervalues Bausch & Lomb, and we plan to enter the go-shop process with the intention of exploring a superior offer for the company," Advanced Medical said in a statement.

Bausch & Lomb agreed last week to be acquired by Warburg Pincus for about $3.67 billion. Bausch & Lomb, however, had the right to solicit other offers during the next 50 days.
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