(Reuters) - "The options market is saying the stock is worth more and the takeover bid should be closer to $69 or $70 a share," said Paul Foster, an options analyst at theflyonthewall.com, who noted recent options activity reflected expectations of a bid.
The offer, which also calls for the private equity firm to assume $830 million in debt, is only a 5.7 percent premium to where Bausch & Lomb shares closed on Tuesday. But its shares have been on a sharp ascent for several weeks -- up about 25 percent since mid-March before today's rally -- due to rumors that it would be a target of a leveraged buyout.
Read more at Reuters.com Business News
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