Paulson increases ownership of Bausch Health common shares

Bausch Health (BHC) Companies announced that Paulson Capital Inc. and certain affiliates and managed funds have increased their ownership of the company’s common shares. The increase reflects the acquisition by Paulson Capital Inc. and certain affiliates and managed funds of the net long position of 34,721,118 common shares previously held by Mr. Carl C. Icahn and his affiliates. The company is not a party to any agreement or arrangement with Paulson Capital Inc. or its affiliates or the Icahn Group in connection with these transactions. Based on information provided to the company, Paulson Capital Inc. and certain affiliates and managed funds beneficially owns approximately 19.13% of the company’s outstanding common shares as of the date hereof. The company further announced that the Director Appointment and Nomination Agreement, dated as of February 23, 2021, between the company and Icahn Group, terminated pursuant to its terms when the Icahn Group’s net long position in the company’s shares fell below the specified threshold. In connection with the termination, Brett M. Icahn and Steven D. Miller have resigned from the Board of Directors. “I believe there is significant value in Bausch Health and am confident in the Company’s efforts to maximize shareholder value. I am excited about the underlying business prospects in both Bausch Health and its subsidiary, Bausch + Lomb Corporation,” John A. Paulson, Chairperson of the Bausch Health Board, said. “I also want to thank Brett and Steven for their dedication and valuable contributions to the Company.”