Advanced Medical Optics’ $5bn counterbid for rival US eyecare company Bausch & Lomb was dealt a blow on Wednesday, when ValueAct Capital, one of its largest shareholders, unexpectedly said the move was too risky.
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In a letter filed with US regulators, ValueAct, which owns a 14.7 per stake in AMO, said the company should focus on integrating other acquisitions and improving its existing contact lens solutions business rather than bid for Bausch & Lomb.
