Bausch + Lomb Corporation announced on May 19, 2025, that its majority shareholder, Bausch Health Companies Inc. (BHC), has entered into separate letter agreements with key shareholder groups, including the Icahn Group, the Paulson Group, and the Kavanagh Group. These agreements stipulate that if any group engages in specific actions, such as supporting proxy contests or acquiring significant shares, they must immediately resign from the boards of both BHC and Bausch + Lomb. Additionally, the Icahn Group has waived certain rights related to director appointments. While Bausch + Lomb is not a direct party to these agreements, BHC has committed to supporting management nominees from these groups, provided they refrain from engaging in specified actions. This announcement was detailed in BHC's Form 8-K filed on May 21, 2025.
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