Bausch Health announced an increase in shareholding by Paulson Capital Inc. and certain affiliates and managed funds.
The Director Appointment and Nomination Agreement with Icahn Group has been terminated as their net long position in the Company's shares fell below the specified threshold.
Brett M. Icahn and Steven D. Miller have resigned from the Board in connection with the termination.
Ownership Increase
Paulson Capital Inc. and affiliates acquired 34,721,118 common shares previously held by Icahn Group, owning approximately 19.13% of the Company's outstanding shares.
Board Changes
Brett M. Icahn and Steven D. Miller resigned from the Board as the Director Appointment and Nomination Agreement with Icahn Group terminated.
Chairperson's Confidence
John A. Paulson expressed confidence in Bausch Health's value and business prospects, thanking the outgoing directors for their contributions.
- The increase in shareholding by Paulson Capital Inc. and affiliates signals confidence in Bausch Health's future.
- The resignation of Brett M. Icahn and Steven D. Miller could impact the Board's composition and decision-making process.
Bausch Health's recent changes in shareholding and board composition reflect strategic shifts within the company, potentially influencing its future direction and decisions.