Meruelo Offers Board Role After Discussing Debt Plans with Bausch Health Companies (BHC)
Market Cap: $1.9 billion | Bausch Health Companies Inc. develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology.
Alex Meruelo
On March 31, 2025, Mr. Meruelo (9.99%) discussed the company’s recent debt refinancing and future plans with CEO Thomas Appio, during which he offered to join the Board and help identify strategic additions. Source
Carl Icahn
On February 11, 2021, Carl Icahn (7.83%) stated his intention to engage in discussions with representatives of the management and board regarding ways to enhance shareholder value, including the company’s ongoing strategic review. These discussions may also involve possible board representation. Source
On February 23, 2021, Carl Icahn (7.83%) entered into a Director Appointment and Nomination Agreement with the company. Under this agreement, Brett Icahn and Steven Miller (Icahn designees) will be appointed as new independent directors, effective mid-March 2021, each serving a term expiring at the company’s 2021 annual meeting. The company has also agreed to include Messrs. B. Icahn and Miller on its slate of nominees for election at the company’s 2021 Annual Meeting, scheduled for April 27, 2021, and the Icahn Group has agreed to vote all of its shares in favor of each of the nominees on the Board’s slate. Source
On March 11, 2021, Carl Icahn increased his stake to 9.59%.
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